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AUD/USD Trading Idea

Posted on Jun 29th, 2016

by colibritrader

AUD/USD Trading Idea

Dear AUD/USD Traders,

It has been a wild trading period. I have been trying to stay away from the markets for the most of the time during the BREXIT, with the exception of my GOLD trade from the 12th of June. It has been one of the best trades so far this year. Just before the BREXIT, I did took half of my profits. Now, I am still running the other half and don’t see an obvious reason to take profits. I hope that you did stay away from trading before the BREXIT event, as I did suggested in my latest trading post. In case you have been trading, I hope you were on the right side of the trade.

The AUD/USD trading idea from today is another long signal. The two last daily candles fully engulfed the previous day’s bearish candle as you can see from the chart. This pattern formed just above the 0.7300 area. I am looking to go long at around 0.7400. My stop-loss would be placed just under 0.7300. My first target is the level of 0.7600. Then, depending on price action we might stay or close the position.

Happy Trading,

Colibri Trader

p.s.

In case you have not seen my latest infographic on how to switch off from trading during your vacation, please have a look HERE

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