This is a followup to my last call for an AU move up:
The US-China trade talks are fluttering through the news. Last update was supposedly China will to provide some ''concessions''. But next update might be Trump debunking and insulting that report.
Who knows? But if the move is to continue up, I see two distinct possible pathways. . . . .
Background: I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opportunities such as this recent plan
After a nice ride down, I went long which worked out very well
And then I caught the recent stair step down quite nicely:
After some good news about the US-China Trade War, I was expecting a significant move up:
So the current plan is an update to plot the possible final waves of the move
Trade closed: target reached
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Target hit. Looks like it followed the green path. I have closed 80% of my position, will let the rest ride with a trailing stop.
Comment
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Almoooost hit the ''bonus round'' but not quite. Rest of my position closed on the trailing stop. Might be time to look for a move down, will evaluate over the weekend.