AUD/USD FLUSH FOR A LONG
Updated
Fundas - With the RBA holding rates and not doing much in the last few quarters, there really isnt much to be excited about for Aussie upside, however commodities are on a bull run and China #s look steady. The dollars bull run has been fierce since last week. The market seems to be in squeeze mode on all dollar shorts as traders scamper to price in plausible rate hikes.
Tech - I think this run will likely take a breather soon, this selloff seem like quite an overshoot to me so im eyeing a buy off supply at 0.7500 with a stop at 0.7430 and target over 0.7650. Thinking the bulls will start to jump in around there and give us a nice push. I will be adding to winners along the way.
Happy Trading
Stellar Craig
Tech - I think this run will likely take a breather soon, this selloff seem like quite an overshoot to me so im eyeing a buy off supply at 0.7500 with a stop at 0.7430 and target over 0.7650. Thinking the bulls will start to jump in around there and give us a nice push. I will be adding to winners along the way.
Happy Trading
Stellar Craig
Trade active
Started in Long at 0.7510Trade closed manually
Closed near break-even after FOMC caused upside spike which started to reverse. Still on watch for another potential long, however based on the close today i think we may have just a bit more downside.Trade active
Re-entered long. A bit more confidence now that price has respected the 0.7475 -0.7500 area. Entry 0.7535 with stop at 0.7475, with original tgt at 0.7650. WIll add to winners once momentum confirms.Trade closed: stop reached
took the loss on this position at abovementioned stop. Aussie too weak
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