Good Trade Set Up Short The Aussie dollar VS USD

Going to be trading into the events of this week , some key data to be released for midweek which will no doubt be in focus.
Q4 GDP for both currencies , along with USD personal income and spending and ISM manufacturing PMIs
As you can see we are entering a trade around the current level Short , with a view to T1 profit taking @ 0.7450 level , then ride it down to 0.7330 just above the 23 fib line where we have seen the buyers stepping in again.
Stop set just above the last high @ 0.7750
You have to be patient with this pair as its a slow mover
Reason for trade :
We have had rejection for a 5th time with a large bearish candle and some strong resistance seen here @ the 0.7700-0.7760 levels , prepare for some volatility with this weeks data release, but a good trade set up with a rating from us out of ten of ( 8 )

Happy trading

Stay tuned for more

Trade active:

Okay so if you are following us, you should now be in profit by approx 100 pips or so. We are now going to move our stop to break even to protect the trade over the coming days/weeks . However if you are new to trading, we recommend you close out the trade to enjoy your profit .
Some USD bulls coming into play and we have the fed speaking tomorrow along with non manufacturing PMI figures to be released stay alert and stay tuned to us .

More profitable trading ideas to follow soon,

Happy Trading

Trade active:

So we are still in this trade , be patient and wait for the RBA overnight with their comments on the Aussie dollar, if they have a cautious tone and keep the rates on hold we should see this slowly gain some traction and go south towards our key target levels , Its being held up a bit due to USD momentum slowing off the back of yellen's less hawkish tone last week, so all eyes on the job reports on Friday , for this reason we may look to change our view on the time we hold this trade , but for now its still the same view until Friday.

Stay tuned

Comment:

We have moved our stop loss to 0.7560 to lock in 110pips and let this trade ride now , ahead of tomorrow's nfp results .

Stay tuned
Happy trading and we recommend putting in a stop loss ahead of NFP

Trade closed: stop reached:

Okay so our stop was triggered and 110 pips profit locked in, we were very aware the .7500 handle was near the .50 fib retracement area, and this could prove some temporary support , however the choice was made to allow the trade to run .
We will be re entering this trade if we see a nice retrace to the 0.7600 levels .
Stay tuned as right now the daily has closed on the 0.618 fib line if we can close on the daily above this level we could see a confluence zone of between 0.7600 - 0.7630 which is the last high on the candle which formed a shooting star ......
However we will start buying in @ 0.7600 slowy .
All eyes on the feds language this week .

we rate this trade out of ten ( 7.0)

Happy trading