IvanLabrie
Long

AUDUSD: Weekly uptrend setup

FX:AUDUSD   Australian Dollar/U.S. Dollar
806 23 29
11 months ago
This is my AUDUSD             forecast, there's a very nice uptrend in the daily and weekly charts.
In my group we have opened and closed multiple long positions on the way up, and this is a nice chance to add to this trade.

The uptrend signal demands a test of the low volume resistance (red box), to eventually reach 0.76476 or even higher, but it'll be a considerable feat if AUDUSD             manages to breach this level and head up.
The most probable outcome is that we see a similar move as the one I forecasted for EURUSD             , with price rallying and reversing right below the low volume resistance zone.

For the time being we'll go long, and we will observe behavior when approaching the resistance zone, and the target.
Once it's clear we can probably open a short of similar characteristics to EURUSD             , but can't give specifics yet.

Cheers,

Ivan Labrie.
Time at Mode FX
11 months ago
Trade closed manually: Doesn't look right at all.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
GoodLuckbabe
11 months ago
i think you did not notice the last two days rejection from resistance which is quite solid and looks to me bearish continuation
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IvanLabrie PRO GoodLuckbabe
11 months ago
No, I think I don't see what you see.
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GoodLuckbabe
11 months ago
snapshot
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GoodLuckbabe GoodLuckbabe
11 months ago
this is short cover rejection
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GoodLuckbabe GoodLuckbabe
11 months ago
means we are approaching on resistance
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IvanLabrie PRO GoodLuckbabe
11 months ago
My chart has a different daily close, no pin bar...strange.
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GoodLuckbabe IvanLabrie
11 months ago
thats why you did not notice but i can see this on different brokers platform
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GoodLuckbabe GoodLuckbabe
11 months ago
i think your daily close is not the New York time daily close
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IvanLabrie PRO GoodLuckbabe
11 months ago
Well, it's what I see on the chart here. The weekly closed there apparently.
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IvanLabrie PRO IvanLabrie
11 months ago
Even if this was a 'pin bar' it wouldn't change my opinion at all. There's more to it than one daily candlestick, for my analysis of it.
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GoodLuckbabe IvanLabrie
11 months ago
yep i am agree with you you should not change your opinion just because of the pin bar there are other factors as well i understand but i am little cautious on this pair and i hope it will go into your way good luck .
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IvanLabrie PRO GoodLuckbabe
11 months ago
Thanks. Yes, a couple rules my mentor has shared with me:

"Add to winners
Cut losers after 5-days
Add more to winners
Know your stop loss
Have 3 reasons to buy/sell
Expect to lose 50% of the time
Don't take it personally
Only trade to make money
If excited, do push-ups
Add to winners (again)
Increase your trading size slowly"

Very good ideas overall.

Cheers, happy new year!
+3 Reply
fxmillions IvanLabrie
11 months ago
Nice tips.
+1 Reply
IvanLabrie PRO fxmillions
11 months ago
Thanks, stop by the key hidden levels chatroom, plenty of great insights are shared there.

https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ

Cheers!
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fxmillions IvanLabrie
11 months ago
Thanks. Will have a peak. Cheers
+1 Reply
caifu642 IvanLabrie
11 months ago
It doesn't include what to do if you're pissed off! : )
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IvanLabrie PRO caifu642
11 months ago
And that means?
Just go do pushups...and take other setups :p
I shared an usdjpy entry, and also went long EURUSD after the fake out down.
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caifu642 IvanLabrie
11 months ago
Thanks! I was thinking more push ups... or maybe sit ups as well! Better than throwing things and swearing! I'm long the AUD, but should have hedged on that little bump up to the .73 level here..... Annoying, but I'll trade another position and work my way out....
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IvanLabrie PRO caifu642
11 months ago
Yeah for sure.

I'd reccomend trading other pairs atm. USDJPY short is very nice. Stop is 120.405.
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caifu642 IvanLabrie
11 months ago
Thanks. I'll take a look at it.....
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Fxprotrader PRO
11 months ago
So deep analysis mate.. Well done..! Although you didn't notice that pin bar...!! I am just kidding :) .. Keep up the great work..!
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IvanLabrie PRO Fxprotrader
11 months ago
Haha.
Actually, there was no way to know it would drop on China news.
But, once it did, you could get out and flip short at my stop loss with a 1 atr stop. (and recover)
+1 Reply
GoodLuckbabe IvanLabrie
11 months ago
This thing does not have all traders which you have I love it I think traders must play on both sides and if they feel that they are on wrong side then immediately change their position and follow the wright rout that's very good that's why I follow your ideas and respect all of these because your ideas are very informative and your are a active and reactive trader
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