joebrownFX

AUD/USD LONG - HIGH PROBABILITY SETUP

Long
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
AUD/USD is at a monthly demand zone , there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line , and a so called area of resistance on the daily.

COT data also shows banks are becoming slightly bullish and reducing short positions.

A-la-la-la-le-LONG,
ah-long-long-le-long-long-LONG!

Don't short basically.

Ps. Trade prediction is not an entry yet, certain requirements still need to be met.
Trade active: Price moving as expected, monthly demand looks good.

Perfect re-tracement to the 4hr Demand zone which I took a trade off.

Retail traders that shorted at the daily trend line are running at a loss and panicking, the 4hr "resistance" traders have been taken out or even worse moved their stop's.

I am running in profit, with part position closed at approx 1.5% gain.

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