AUDUSD Swing long
- Thread starter Leebax
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Going to have to wait for mid week news to see AUD move direction i am thinking
Last time we checked AUDUSD out we saw the push up from the lower demand level . I didnt enter as i wanted it to break above and retest the blue circle area before the next push up.
But now i believe this time i will enter the market lower. If price comes back down and holds the support level of 0.6686 and create an inverse H+S then i will enter a long position with a small stop loss, this gives potential for huge R:R.
Remember use correct risk management as always, no need for greed if you catch the swing. Enjoy the rest of your Sunday markets open in only a matter of hours
But now i believe this time i will enter the market lower. If price comes back down and holds the support level of 0.6686 and create an inverse H+S then i will enter a long position with a small stop loss, this gives potential for huge R:R.
Remember use correct risk management as always, no need for greed if you catch the swing. Enjoy the rest of your Sunday markets open in only a matter of hours
Its the start of the trading week and back looking at [URL deleted] AUDUSD, havent visited this pair for a while and with good reason, last time i was looking at this pair i was hoping it would hold at the old [URL deleted] support level of 0.668 to form the right inverse shoulder for a move up. BUT the corona virus has certainly killed that idea, with it affecting the AUD currency in a big way we have seen a big [URL deleted] drop below.
i drew this charts up the other day and price came down and hit the bottom of the channel perfectly last friday, today we are seeing a possible turn upwards. Theres a small [URL deleted] resistance level above at 0.6585 to be careful of. i think a break and re test above that level could be a nice cheap buy in if you havent already bought cheap below. Only n eed to use small positions down here at these cheap prices for a big amount of pips for a swing upwards. Stay safe out there everyone
i drew this charts up the other day and price came down and hit the bottom of the channel perfectly last friday, today we are seeing a possible turn upwards. Theres a small [URL deleted] resistance level above at 0.6585 to be careful of. i think a break and re test above that level could be a nice cheap buy in if you havent already bought cheap below. Only n eed to use small positions down here at these cheap prices for a big amount of pips for a swing upwards. Stay safe out there everyone
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Since we last looked at AUDUSD we have had some nice bullish price action, so though we would check in on the 4H. USD has been very weak and AUD had a nice little boost. Ive always said its good to buy in at cheap prices and just wait for the turn. Use small parcel positions as they will build up when price turns and you stack into action. You can see my robotic smiley face similar to the H+S but the shoulders are flat. Thats because the level of 0.6585 has been VERY strong, you can see multiple levels of it holding right along that demand line. Look to buy on any pullbacks in price is my opinion. moving averages have crossed to a bull now too so we should see some upwards momentum. enjoy rest of your weekend GLIYF
Checking in on AUDUSD , well i got the first part correct, the yellow circle was hit as expected, but then we got the big flash crash which sent the markets into meltdown. Price has tanked through the strong support of 0.6585 we have travelled all the way back down the the bottom of the channel. Will we see a bounce from here and make a double bottom and W formation? time will tell lets see. the level of 0.6585 is the most important to break back above. If you buy round here for the swing use small positions. Ill be looking to buy back above the level above. GLIYF
Well, its painful to look at AUDUSD . I saw a few people mention that it blasted through the channel but i only checked back up on it today. Wow what a drop through the channel. We have to look back to 2009 on the weekly chart level for a zone of support. The level of 61 cents is a major reversal area. Obviously we have been bearish for along time so a point in the future we will reverse and get a nice bull run, but when will that be. the last time it hit this price area it rose up to 1.1 dollar. Will history repeat itself? sometimes it does but sometimes it doesnt. but one thing for sure is that it is a cheap area to buy longs for AU and hold. Look out for the double bottom or direct reversal, lets see where monday opens
Well we revisit our old friend AUDUSD today. Looking at price how can we argue against looking for sells. Its a long way away from the days we were looking at H+S above for longs and inverted H+S . With the world problems an AUD only just going into lockdown, i cant see any strength in AUD for a long time. I will be looking for sells if price moves up a little more to the resistance area above at .60 cents. I think that it will retest the lows again for sure before it ever makes a new bull move upwards. Stay safe everyone not just in trading but in life also at these hard times. GLIYF
Been a while since we looked at AUDUSD . WE have broke back that strong support level . I think its due to China being back to production. Ive read some industries are shipping to Australia on building's supplies/ glass etc etc. This will be good for AUD as they will also be exporting to China. Plus we have the big pump project for USD, and that surely over time cant be good for USD strength. It should be seen as weakness, my opinion is to by the dips now in AUDUSD . Hopefully we get a nice little dip back to the support soon before the next big push. Risk management for a nice long swing trade should hold well. GLIYF
Last time we looked at AU i was looking at the pullback in price, we got that and have since had a push upwards. But currently we are seeing a bullish daily candle back down to the support. i think USD will weaken in the near future, but we also need to be careful of the M formation that could possibly be forming. If price holds at this support i will be placing buys. GLIYF
