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.


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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