AUDUSD: Strong uptrend

FX:AUDUSD   Australian Dollar / U.S. Dollar
This is an update to my previous charts on AUDUSD             (see the one where I shared a long entry for this pair in particular). The newer charts have been sharing analysis on it, and other Asian and Oceanic currencies, which I see as having amazing signs of strength, suggesting we have long term trend reversals, or at least major retracements in play.

There is a new mode forming as we speak, and if we close the week above 0.77102, the prospect of further uptrend continuation becomes more likely. I'm long AUD, and also long it against a variety of currencies ( euro             , pound, swiss franc             ), and I don't reccomend playing the short side in such a massive uptrend.
The level above is the next 'make or break' resistance, which will open the gate for the upper 0.8-0.9 range, possibly even parity during this year.
Each red line, is a vital level, that must see a close above, and then lows finding support there as we move forward, since these levels are where the sellers actively drove the pair down on multiple occasions.

If not long AUDUSD             , you can enter any of the pairs I listed with a 3 ATR stop loss, or look to enter with your preferred strategy. I'm in with a conservative (3 atr stop) and a more aggressive stop loss position on each of them, which suits my risk profile, and lets me keep a core position, and add, without going overboard on the initial entries.
Keep in mind that the fundamentals favor a decisive moment ahead too, with a host of Chinese data coming out, as well as the IMF meeting tomorrow.

Remember that a stop loss is mostly, a way of measuring your position sizing, don't disregard the importance of position sizing strategies and you'll live a happy and healthy life as a trader. The main thing is knowing when you're wrong about the trade, to exit, and knowing when you're right, to add to it and let it run.

If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.


Ivan Labrie.
Comment: 0.77213, quite positive close here.
Comment: Price found support still, no breakdown below the mode.
Let's see how the day closes and what happens next.
Comment: Buyers are in control, as expected.
Comment: We broke the weekly downtrend mode gentlemen, expecting big upside.
Comment: We might consolidate above the previous resistance, which would offer a 4h or daily entrance if not in.
Comment: Rejection and closing under the mode now implies potential for a retracement or consolidation. I'm flat audusd, but long gbpaud.
Comment: Shorted audusd on retracement, looking to cover and go long again eventually.
Comment: Out of all AUDUSD shorts, flipped long here with a 3 atr stop loss (315 pips)

The decline wasn't acknowledged by rgmov
and we sit at monthly range expansion support.
Comment: (the chart shows a 1 atr sl)
Better view

I'm covered on that front.
Oil /AUD are correlated
2D... waw I have no patient enough for this TF, but agree if price closed below 77102, the price possibility will test around 76802 levels.
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