AUDUSD swing trade and how to compound
Updated
Hello everyone
With seasonals in play i think AUDUSD will breakout of this 180-200 pips range. The market is optimistic about inflation coming down and i think that will be a key factor for the next month. Usually AUDJPY and AUDUSD have a fantastic month in april. On this chart i show you my gameplan in real time and i will update the chart the same way i did with GBPUSD which you can see here
I also mapped out how i think it will play out(obviously the PA will be a bit different) but i think those are key areas where you should long. Your core position should be intact until it reaches it 0.711 area(you dont touch the trade) Once we breakout of the range and test the range highs you compound your position for a shor term trade. I layed out how i think it will be. In the beginning of the month you have the test of the range highs, pullback and then mid month you have the consolidation phase which you will have to be careful not to be chopped out. End of month flows will bring you the top and thats where you will take profits. With patience you can do everything.
I hope this chart helps you and prepare you for a good trading plan.
Cheers,
Inorogu
With seasonals in play i think AUDUSD will breakout of this 180-200 pips range. The market is optimistic about inflation coming down and i think that will be a key factor for the next month. Usually AUDJPY and AUDUSD have a fantastic month in april. On this chart i show you my gameplan in real time and i will update the chart the same way i did with GBPUSD which you can see here
I also mapped out how i think it will play out(obviously the PA will be a bit different) but i think those are key areas where you should long. Your core position should be intact until it reaches it 0.711 area(you dont touch the trade) Once we breakout of the range and test the range highs you compound your position for a shor term trade. I layed out how i think it will be. In the beginning of the month you have the test of the range highs, pullback and then mid month you have the consolidation phase which you will have to be careful not to be chopped out. End of month flows will bring you the top and thats where you will take profits. With patience you can do everything.
I hope this chart helps you and prepare you for a good trading plan.
Cheers,
Inorogu
Trade active
Entered the swing tradeTrade active
added a bit more exposureNote
Booom!Trade active
Taking some profits off the table here before RBA later. I will be sleeping so i dont want to get caught off guard yet. Will add on tomorrow if it looks good or cut exposure if needed. Very good profits so far -> snipboard.io/t2Jupv.jpgNote
moved stops at BETrade active
added again exposure...planning to add moreTrade closed: stop reached
Stopped at breakeven. Will reasses.. Overall managed to book 1.5R
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