So I entered the first sell because we have seen price resist that level and consistently retrace from it except one occasion.
DXY index is current under the 200 MA for daily timeframe and is in downtrend so I have a sell bias for USD dollar in the short term.
I plan to take out half of profits once TP is hit and then keep half to 0.77 support level.
I have a buy bias for AUDUSD long term due to the price being above the daily and the 4 hourly 200 MA
Therefore I will look for buys at the following levels:
- Bottom channel for black trendlines drawn
- Price at MA
- Price at approx 0.77 support
DXY index is current under the 200 MA for daily timeframe and is in downtrend so I have a sell bias for USD dollar in the short term.
I plan to take out half of profits once TP is hit and then keep half to 0.77 support level.
I have a buy bias for AUDUSD long term due to the price being above the daily and the 4 hourly 200 MA
Therefore I will look for buys at the following levels:
- Bottom channel for black trendlines drawn
- Price at MA
- Price at approx 0.77 support
Trade closed: target reached:
One of my old trades that hit TP :)