AUDUSD Trading Analysis 28 Sep 2017

by: Colibri Trader

Dear traders,

Last time’s trading analysis have been pretty precise. I was looking at the German stock market- DAX. Since I wrote about it, it has been up over 120 points. It is still looking very bullish.

There are two green candles and no bearish indication whatsoever. We have climbed past the minor resistance level at 11,700. The next level is the psychological barrier at 13,000.

I will be closely monitoring this index for a possible addition to my current long position. The ones of you who have taken my trading course might have already added 1 or 2 times to their initial position.

I myself missed those opportunities, since was away from my desk.

 

AUDUSD Trading Analysis

 

Today’s trading analysis is coming from the AUDUSD pair. It looks like we are seeing some exhaustion here. There is a major support level at 0.7810 which has been rejected.

In an ideal world, I would like to see the price going below this level and then forming a rejection. Although, there is a pinbar on the daily chart, I feel slightly hesitant about this possible opportunity.

I might wait for a bit longer and see if price goes lower than 0.7800 and makes a second rejection. Then, it would be a clear bullish sign for me.

The 4 Hour chart is showing bullish bias, as well. But again- sometimes I prefer to be a bit more patient, especially when we had so many great opportunities already this week.

Happy Trading,

Colibri Trader

p.s.

Check out my article on Money Management 

or Check out my other recent analysis on EURCHF