FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
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AUD/USD is making higer lows in the daily timeframe , Has made a retractment to 0.618 (confluence with a weekly Support & Resistance ).
My setup will be like this, If the price breakout of the bearish purple channel ill go long, with stoploss 10pips bellow previous low. The first target could be previous high. if this target is completed ill do Break Even, and try to go to complete a perfect ABCD .
Today we have aussie news. So Ill move stoploss to 0.74600 . Protect benefits always.
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now what? it broke 0.75 and pulled back to below 0.7450...... do we short or long?
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@phoe68, Lets see how the market opens. I'll wait a daily confirmation like an egulfing bullish to retry going long. Else, go short with the weekly suport & res trendline as target
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phoe68 IvanMadrazo
@IvanMadrazo, looks AUD has formed bottom?
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@phoe68, I think so. Yo can enter if your an agressive trader AT 0.74373 SL 0.73200 (117 pips) TP1: 0.77073 (270 pips) TP2: 0.78200 (382 pips) TP2: 0.79987 (561 pips)
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I had move stoploss to Break Even. From here let the trade be free.
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it'll have to make a a down move then it'll go up... ur srop is my tp
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mark my words
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@arshadd, Hope you had token long position.
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no way... in the next week I'm bearish on this pair... you'll see down move of 200,300pips
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