Right more Jawboning from the RBA and a not so impressive CPI reading all points to pips for us ..... Stick to the trade plan and this should play out nicely ..... were about 13 pips away from TP1 and the UK and US MKT's are still to open .
REPOST:
Round 1 to the RBA , give Gov 0.00% . Debelle a round of applause text book jawboning.....................
Anyway we cant be too disappointed as if you see the previous post this pair has been giving us a steady source of income . ( See previous Post July 12th)
Right onto business :
With the AUD coming off the back of a nice rally for a while, now the Jawboning from the RBA , Its safe to say profit taking has commenced.
Important data due out today @ 13.30 for the Loony , so the MKT's will be watching .
Scenario 1: ( Short AUD ) "our preferred scenario as this will have way more traction longer term"
We have an ever improving Canadian economy and the recent figures has proven this, its expected that the data due out should tick higher , if this is to be the case then Short AUD/CAD 0.53% all the way .
Short @ MKT - 0.9950 area
TP1 @ the trend line support 0.9860 area
TP2 area 0.98 levels where we were originally buying in .
REPOST:
Round 1 to the RBA , give Gov 0.00% . Debelle a round of applause text book jawboning.....................
Anyway we cant be too disappointed as if you see the previous post this pair has been giving us a steady source of income . ( See previous Post July 12th)
Right onto business :
With the AUD coming off the back of a nice rally for a while, now the Jawboning from the RBA , Its safe to say profit taking has commenced.
Important data due out today @ 13.30 for the Loony , so the MKT's will be watching .
Scenario 1: ( Short AUD ) "our preferred scenario as this will have way more traction longer term"
We have an ever improving Canadian economy and the recent figures has proven this, its expected that the data due out should tick higher , if this is to be the case then Short AUD/CAD 0.53% all the way .
Short @ MKT - 0.9950 area
TP1 @ the trend line support 0.9860 area
TP2 area 0.98 levels where we were originally buying in .
Trade closed: stop reached
Okay so we moved our stop after posting to 0.99 and annoyingly got to within 1 pip of our TP level , 0.9861yes you heard correct ........but this is trading anyway we were stopped out for 50 pips profit as the mood turned and the Aussie buyers came in .
Its very important to note why it did this , to help you guys understand it was because Chinese data was due out :
a bit of reading for you ,
forexlive.com/news/!/china-june-industrial-profits-191-yy-20170727
Plus moody's has upgraded there outlook on China from negative to stable all helps
this was positive for the AUD and lets face it the way Lowe jawboned was embarrassing , so the markets responded and off we went
oh and encase your wondering we did jump on the band wagon for the day to make some pips on the way up too , but were out now ........
Happy trading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.