Long

AUDUSD - Daily Retrace Off Lower Triangle LIne

Updated

is Oversold and bouncing off the 200 Day SMA. As well, looking for a bounce inside the descending Triangle.

We will go LONG inside the triangle, looking for a retrace to the upper triangle trend line. There we will decide if we take a partial close with a break of the upper line or close the entire position. As sustained move below 0.77000 would negate this set-up.

ENTRY
0.77050

STOP LOSS
0.76000

TARGETS
0.77830
0.80070

Published 10/25/17

Trade active

Note

Passing of the US budget has created some pressure on this position. We will continue to hold and watch what the next week brings.

Note

The messy AUD government news is not going to help our case on holding this. We will hold until SL is hit or we see a bounce and return back into our original wedge.

exequorcapital

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