I could not find the right timing to short AUDUSD yesterday, partly the mind was more inclined to go long on EURUSD. Generally, USD pairs are on the down move. Continue to look for Sell in LTF
Entered and moved stop quick to give it a shot. In order for this long to work, 1.1273 must be breached
Attempted to long from 1.1218, only managed to scale out a few as the range was tight (really did not close above 1.1250). A nett 1.73R profits. Shall wait for next setup. Stay neutral for the moment.
At the beginning of week, it was still a downward bias. Just hope that price does not get stuck in the current range of 1.1200 to 1.1250. i.e. a nice break above 1.1250, should help to propel EURUSD to "1.1320" or even higher. Upcoming news impact: A potential rate hike at the Sept. 20-21 Federal Open Market Committee (FOMC) meeting.
17800 would be a key support to look at. Selling should be more lucrative as we approach towards the end of 2016
12-Sep Mon: Possibly sidewards consolidations then a break above 103.50 should signify new upward trend
Expecting Asia session to be quiet. Shall wait for a sell setup in London or US session.
after meeting resistance, would EURUSD go abnd re-test at least this week's opening?
FX:AUDUSD is going into the Sell zone. Start getting into sell positions for longer term (2-10 weeks) traders.
A convincing break would give us chance to test 1.1200. Already into position, safe, and size increased
TLB would confirm a potential down move, hopefully to 1.1100
A strong close below 1.1220 should provide a strong signal that CD is likely to happen
It's still a guess how the BC leg would form. After which, the CD leg is the one to chase. Short term - Long BC Mid term - Sell CD
correction to yesterday's title (should be 1.1220, not 1.2200) Another possible attempt, let's see if TLB happens
Potential test of 1.2200 region or even higher Big picture is still to sell but as a day trader, I always have more options.
Plan: Tough one here. Biases towards sell side. The big picture and lines are adjusted according to W36's development. Grey - Cautious zone Green - Buy zone Red - Sell zone Use LTF to find entry and manage according to the zones. Really depends on how the market develops over the next few days.
AB leg, target point B - 1.1100
LTF setup to start the selling actions.