Tradeciety

AUDUSD like clockwork

INDEX:XGY0   Shanghai Class A Idx
50 0 3
Yesterday we said that unless the Shanghai Composite             is showing another major down day, the Aussie won't break lower.

Wednesday, the Shanghai Composite             1% lower but this was certainly not enough to start a new bearish trend wave. The Shanghai Composite             is still above its support level at 2983. As long as this holds, there is no reason to short the Aussie.

It's not often that such obvious connections exist. Make sure to use it to your advantage and don't sell prematurely. Wait for the confirmed breakdown in Shanghai to get on the train of a high probability trade. Currently, all premature short positions are in a squeeze which is totally unnecessary.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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