This pair has been range bound since April and has been in and out of the range area bouncing off a rising trend line since 2015. RSI is now declining after rejecting the high of the channel for the fourth time and I'm setting a buy order @0.74 with a trailing stop below previous support and the trend line down @0.73 so reduce your leverage to ensure it's within your account management policy, I'm looking for a bigger move out of the channel up @0.76.
Note
We're still moving down for our entry price @0.73955 where I have a buy order waitingNote
Aussie broke straight through the channel and bounced off the long-term trend line, looking for a two-legged pullback to take a Long position.Note
This is what the pullback will look like, it's already tested the low and held it twice, two legs, now I want the final pullback to hold on the 1H timeframe, but I want to see a bullish signal on 4h and daily as well, it's not impossible to break through that trend line and continue to the downside.Note
This will pullback to support nowNote
Trade is still active and going sideways and after nearly a few weeks, now at breakeven Note
This thing has not moved for a month.... YAWN! Note
We're actually starting to move north, only taken a month.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.