AU1! trade ideas
AUD/USD FUTURES. Double bottom.I think that everything is perfectly visible on the chart without any explanation. I would recommend to buy half anywhere between 0.68-0.7 and another half as soon as we break the downtrend on daily. SL near 0.67, TP 0.73-0.74. However, recent move on DXY might be a problem here cuz it's still in uptrend and looking very strong right now. so risk on ur own and don't forget to check DXY from time to time
$Aud Aud has held strong despite the historical low interest rates from the recent .25 cut by the RBA. Unlike its fellow antipodean Nzd which took a major hit while risk sentiment was percieved to be much higher to investors last month.The past 2 months Gold is up 5.4% feeding the risk off sentiment and also iron ore contracts up 39% on the year helping the commodity currency keep stable. Daily there's a tight range of $.7010(50ema) - $.7020 (76.4%) that was rejected but held an engulfing candle above the prev daily high and the 61.8% retracement. Weekly price finished above the 23.6% retracement after a doji signaling continuation upwards. Should price break the weekly 20ema/32.8% ($.7070) then there is optimism for bulls to to test the 1D 200ema around $.7160. Note Business Confidence and Employment change i expect to be weaker later in the week so will keep you updated.
March Australian Dollar Head and Shoulders. AUD fell today after posting higher move last night for top of possible right shoulder. Nearing neckline at .7042. Tomorrow should show either a reversal or continued selling to neckline. Outside target for right shoulder height and fall if this does come due is S1 at .6953 and perhaps S2 at .6840. That would put it below a double bottom so not sure if would go that far.
AUSTRALIAN DOLLAR FUTURES (MAR 2019), 1D, CMETrading Signal
Short Position (EP) : 0.7242
Stop Loss (SL) : 0.7279
Take Profit (TP) : 0.7168
Description
A6H2019 formed Turtle Soup Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (0.7242) and place stop after 0.618 level (0.7279). Once the position was hit, place take profit before an agreement (0.7168)
Money Management
Money in portfolio : $1,000,000
Risk Management (1%) : $10,000
Position Sizing
$0.0001 = +-$10/std-contract
Commission fee = -$4.94/std-contract
EP to SL = $0.0037 = -$370
Contract size to open = 27 standard contracts
EP to TP = $0.0074 = +$740
Expected Result
Commission Fee = -$133.38
Loss = -$9,990
Gain = +$19,980
Risk/Reward Ratio = 1.96
At value area low - now have bullish biasIs below value area low for long term and short term volume profiles.
Bullish bias in green box. Eventual target at POC.
Long Australian DollarLong Australian Dollar at 7150, target 7165. Smaller LVN, will likely run 5 point stop.
Australian Dollar ShortShort Australian Dollar if we get down to 7180, covering at 7150. Will likely run a 5-10 point stop. Solid LVN here.
#FXinsights #TradingViewTOOLKIT DEVELOPINGinFOREX/NEXTinFOREX a6Australian Dollar
SHORT >>> Developing inFOREX
((LONG >>> Next inFOREX ))
SEE #FXinsights from #cisTRADING "DEVELOPING inFOREX" Trade for Jan 2019 LINK
CHARTS BELOW with cisGGseriesMETRICS
A LOOK AT current A61! DAILY
AUDUSD
AUDCAD
AUDNZD
AUDJPY
GBPAUD
EURAUD
#FXinsights #TradingViewTOOLKIT Developing in FOREX A61!#cisTRADING NEXTinFOREX trade this month is D61! Canadian Dollar Futures
BUT... DEVELOPINGinFOREX trade this month is A61! Australian Dollar Futures
EXPECT ANY STRENGTH SHORT TERM TO FAIL... Another move down before AUD really finds its market!
MarketDEPTH is increasing and there should be a #cisGGMarketDEPTH HIGHER PEAK HIGH greater than 371 pips into 400's
AUSTRALIAN DOLLAR FUTURES (MAR 2019), 1D, CMETrading Signal
Long Position (EP) : 0.7015
Stop Loss (SL) : 0.6942
Take Profit (TP) : 0.7195
Description
A6H2019 formed Double Repo Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (0.7015) and place stop after 0.618 level (0.6942). Once the position was hit, place take profit before an agreement (0.7195)
Money Management
Money in portfolio : $280,000
Risk Management (1%) : $2,800
Position Sizing
$0.0001 = +-$10/std-contract
Commission fee = -$4.94/std-contract
EP to SL = $0.01 = -$730
Contract size to open = 4 standard contracts
EP to TP = $0.02 = +$1,800
Expected Result
Commission Fee = -$19.76
Loss = -$2,920
Gain = +$7,200
Risk/Reward Ratio = 2.45
AUSTRALIAN DOLLAR FUTURES (MAR 2019), 1D, CMETrading Signal
Long Position (EP) : 0.7025
Stop Loss (SL) : 0.6991
Take Profit (TP) : 0.7093
Description
A6 formed Turtle Soup at 1d time frame. Trade setup with Buy Stop at 0.7025. Stop Loss at 0.6991. Take Profit at 0.7093
Money Management
Money in portfolio : $280,000
Risk Management (1%) : $2,800
Position Sizing
$0.0001 = +-$10/std-contract
Commission fee = -$4.94/std-contract
EP to SL = $0 = -$340
Contract size to open = 8 standard contracts
EP to TP = $0.01 = +$680
Expected Result
Commission Fee = -$39.52
Loss = -$2,720
Gain = +$5,440
Risk/Reward Ratio = 1.97
Time GuesstimateWe are watching a bearish movement based on the drive of the time target. Next could be a probable uptrend.
AUD/USD Trading Opportunity (Long)Micro AUD/USD Long, Trendline break to the upside on the weekly chart, MACD crossing above the zero line, good risk to reward ratio.
