AUD/USD LONG - HIGH PROBABILITY SETUP
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.
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.
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.