As we have been in a long term down trend for the last couple months we are long term bearish on AUDUSD. Expecting price to drop to our magnet zone.
However, it seems price is retracing so we are short term bullish until price reaches our short zone 1 where we will be looking to short. If price does not respect zone 1 then we will look to short from zone 2.
In the mean time we will look for intraday longs until our short zone.
However, it seems price is retracing so we are short term bullish until price reaches our short zone 1 where we will be looking to short. If price does not respect zone 1 then we will look to short from zone 2.
In the mean time we will look for intraday longs until our short zone.
Trade closed: stop reached:
We took a buy in this when price tapped the zone and were able to secure 60 pips.
Price then came back in again however this time we have been stopped.
Let's see how price progresses
Price then came back in again however this time we have been stopped.
Let's see how price progresses