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SwingWaiter
Mar 14, 2022 9:46 PM

AUD down to earth Short

Micro AUD/USD FuturesCME

Description

For a while recently the Aussie dollar has been tracking the US dollar price of oil. While the correlation is by no means permanent, we've seen both receding recently. AUD/USD's DI- has been approaching a convergence with DI+, and traders may wish to short this pair when the negative indicator crosses higher.
Comments
SwingWaiter
We did indeed enter short when DI- crossed DI+. After they crossed back, we reversed, eventually scaling into a full position that continues to perform well. When we start to see red candles, we'll start taking profits.
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