AUDUSD Trading Idea
AUDUSD Trading Idea
by: Colibri Trader
Hi traders,
My trading idea from last time is still to be confirmed or neglected. It looks like DAX (Germany 30) is hesitating between the levels of 12,500 and 12,700. This 200 pips range is definitely holding tight for the past few trading sessions. I am still looking to validate my trading idea. For now it looks like bulls are showing some hesitance, but the next trading session will confirm or reject this trading setup.
AUDUSD Trading Idea
Today’s trading idea is coming from AUDUSD. There was a bit of discussion with some of my followers recently when I posted the NZDUSD trading setup. We were discussing the possible outcomes and you can read more about it HERE, where I originally posted the idea. I am looking at today’s price action. It seems like AUDUSD has formed a three bar bullish engulfing pattern. This denotes the bullishness of the market participants. This pattern formed on a minor support level, which makes me think this could be the beginning of a new leg up. I will be looking to possibly go long at around 1.7450. Stop loss would be placed just under 1.7410. First price target would be at 0.7500. The secondary one at 0.7800.
Happy Trading,
Colibri Trader
Hi colibritrader,
Tha DAX does look messy with support at 12542 MT4 chart.
Maybe it’s consolidating, the LIS for me will be that S #
I agree on the AUD analysis, I am long the SPI200 or the AUS200 cfd equiv…
Regards
Hi Dan,
Yes, DAX does really look messy. As I wrote in my article, it seems to be locked in between support and resistance and takes ages to break through. AUS200 seems to be on a long-term support and I can see why you are long, but what about SPI200? Which instrument do you mean?
Hi colibritrader,
I have a cfd account, so I trade the AUS200. I just closed a DAX intraday trade. I picked 12590 as a turning point for 30 points upward closed all now.
Untill this 4hr range breaks I see no point in falling in luv with any position.
Hope your making good money
Regards
Hi colibri,
wow aud broke out, a few regualr shorters would have been caught 4sure
I understand now the why, Yellens remarks increased carry trades