Good_Morty_Smith

AUD/USD Daily Analysis - Python Forex Auto Trading - "BUY TRAIL"

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Hello Traders! Last week we had a "Bear Trigger Candle" on the Weekly Chart. The Trigger Candles control the trend, either by being CONFIRMED (Trigger Price Breaks) or REJECTED as in this case so far. It is only Monday but the Price Action caused my "BUYTRAIL" alert to trigger and send a webhook to my Python Script to BUY AUD/USD at Market with a TRAIL of 10 pips. It was triggered due to the price going above the REJECTION price that is coded. Sometimes when a Trigger Candle is REJECTED, it happened Aug. 28th Bull / Sept 4th Bear Reject, the price moves very rapidly and engulfs the previous candle. That is what the automatic BUYTRAIL is for. If today we would have dropped in price below the Bear Trigger Price of 0.63732, an "AUDUSD, SELL" alert would go off and send the appropriate webhook to my Python app listening and it would send the Sell Order with a Stop loss to my broker all in under 2 seconds. But we don't predict here! Just react. As you see with the Bear Candle on July 17th, the second red candle back from now sitting on the Moving Average, it was confirmed and the downtrend occurred BUTTTT in the beginning of the next week after the Bear Candle, the first two days it trended UP and created a LARGE wick then confirmed the Bear Candle by crashing under the Trigger Price and Moving Average. That is why I put a trailing stop on the Rejections. The difference between now and then is the Stochastic K% and D%. We are bottomed out currently with 4%K over 3%D slightly Bullish. Last time we were 58%D over 57%K hitting that 50 mark coming down. Anyway, if you don't trade Forex the same logic I use here is applied to SPX and SPY stock options as well. All the Charts are the same and these candles appear in the same location on each chart. I only switch which API I send the order to. Study and have PAY-TIENCE! Love your family and yourself even more! Till' next time Gang!

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