Long on micro aussie against the weaker coming dxyin the coming news filled weeks we should start to the the dxy retreat
with the previous job numbers we are setting up for a rally filled FOMC
join me in the profit taking!!!!!!
Linda Bradford Raschke long set upADX more than 30 and price above EMA20
indicate market is on trending phase
also price action that you can see on 4H chart
bullish engulfing above previous resistance
2RR use for this entry
Wyckoff accumulation schematicWyckoff accumulation schematic with volume analysis is show possibility that price will move to another zone
last move up swing price moving up with high volume + gap up that show strong demand
also by fundamental AUD is considered as commodity currency so I set RR at 4 that possible in this set
Swing Trade Journal - 6ASwing Trade Journal - 6A
MFI: Good
Algo: Good
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inverted H&S + COT report Inverted head and shoulders pattern break out and now retest neckline
If you check COT report you can see commercial that considered as biggest player in this game is on long side
Also gold price is up
AUD is considered as commodity currency have positive correlation
The Bear Case for AUD/USD:Capitalizing on Aussie Dollar WeaknessExpressing Our View
We expect the AUD to remain weak against the USD, supporting AUD/USD short positions. We believe that the RBA’s tightening cycle is over, supported by rising unemployment figures and moderating inflation. On the other hand, USD should continue to stand tall as Treasury yields c
Aussie Dollar: Headwinds AheadAUD is a commodity currency. Australia’s resources rich economy is heavily influenced by commodity trade, particularly with China. When China sneezes, the AUD catches cold.
With the Reserve Bank of Australia (RBA)’s rate hiking cycle approaching an end plus China’s economic recovery remaining anae
AUD Futures 6AIndecision around 50% Ret: yields equality target either way. Long into single and double res. over hang. Or rollover short to retest swing low with general USD strength.
AUD +++We can change the behavior of the Aussie has cleared liquidity and has retraced back into a potential buy zone. This is a counter trend trade but it's about time to see the Aussie gain a bit of strength based off current levels of bullish volume.
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