AUDUSD - Tuesday squeeze play

FX:AUDUSD   Australian Dollar / U.S. Dollar
77 0 2
We stressed the importance of waiting for the Chinese market before shorting the next down-wave on the AUDUSD             .

On Tuesday, the Shanghai Composite             closed 3% higher and also the Hang Seng ended up closing positive. Those profits "boosted" risk currencies such as the AUD and the NZD.

A look at the AUD shows the short squeeze on the AUDUSD             . Price went all the way, squeezing both resistance areas above current price. Traders who entered prematurely either saw their stop hit or were under major pressure. We can't say it often enough: don't short the Aussie if China closes higher.

Current price action is still bearish . The squeeze shows that sellers were able to drive price back down below support. The Shanghai Composite             is currently down -0.54%, but it's still early in China.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world

> Introduction to my trading method:

> Free blog: www.tradeciety.c
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out