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AUD/USD Trading Idea

Posted on Feb 9th, 2016

by colibritrader

AUD/USD Trading Idea

Dear AUD/USD Trading Idea followers,

The trade from last time played out very good. It went up over 250 pips from the moment when the signal was triggered. It was a very fast rise and the second day after the signal was given, I saw a bit of hesitation in the form of a small bullish rejection. That is why I did decide to close my position at the first target. After the bullish rejection, we had a bearish day and now the price is very close to where it was when I was writing about the signal- 1.4450.

Today I am looking at my AUD/USD trading idea. The pair is in a range since a few months already, which I believe would soon be broken. But before that happens, I can see a daily pin bar, which is giving me a short-term bullish signal. The pin bar formed just above the 0.7000 support area. I am looking to go long at 0.7055. My stop-loss would be placed just under the level of 0.6970. My first target is the level of 0.7150. From then on, it all depends on price action.

Happy Trading,

Colibri Trader

p.s.

Check out my Long-Term Investment Article– some of the shares I talk about are over 15% up in the past two days!

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