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Audusdsell

AUD/USD Forex Signal: Beginning ConsolidationI wrote last Tuesday that a long trade generally did not look like a good idea, and that the resistance level at 0.7430 did look quite strong, so it might provide a short trade – I was prepared to go short if we get a firm reversal off that level, which we did. The picture now shows the former large swings up and down in this currency pair beginning to narrow, with the first signs of a consolidation pattern emerging between 0.7321 and 0.7390. The Reserve Bank of Australia released the minutes of its most recent monthly meeting a few hours ago, with the key takeaway being that the RBA does not expect to raise its interest rate in 2022. This as expected has had a small dovish effect on the Aussie, but nothing really of any technical significance above a scalping kind of time frame. If I am correct about this consolidative atmosphere, the best opportunities ahead in this currency pair will be likely to be either a long trade from a bounce at 0.7321 or a short trade from 0.7390 again. I prefer a short trade as the US Dollar is in a long-term bullish trend, meaning a short trade should be likely to have a higher chance of producing a better result. Short Trade Ideas Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7390 or 0.7430. Place the stop loss 1 pip above the local swing high. Move the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride. Long Trade Idea Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7321 or 0.7267. Place the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
Short
by SmoothJB
AUDUSD , You can buy now ...Hello every body In here in this chart we have in 4h time frame we have BW ( breakwave ) and now we need to have pullback and in here we have a candle pattern ( Ascending cover ) and when we are checking the chart in back we can see we are in support zone that made before and now with this pattern we can buy but its 50 50 , but with this very low stop loss we can buy and scalp this position until the first resistance The one the most point we should becareful about it , that is the trend is downward in microwave and this position is opposite of the trend but it has a nice R/r and this is good for scalper Dont forget use stop loss and attention to money management Good Luck Abtin
Long
by Abtin00
Is there still downside for the AUDUSD? The AUDUSD moved down as we predicted last week. I hope you guys took the trade. The price is now trading in a neutral zone and we've to proceed with caution. If we look at 2013, the last time the fed announced a taper, the price of AUDUSD dumped all the way down to the bottom of the channel and beyond and this time round it could be the same. We've a neutral bias for the AUDUSD this week. BEAR CASE Price look due for some upward consolidation before dumping down to the 61.8 or even to the bottom of the channel where it coincides to with the 0.725 level. BULL CASE If the fed taper is already priced in and the market is bullish on this risk on currency, 9.757 and 0.768 are in play. PS: If you control your risk, take both sides of the trade and and time your entry perfectly with a 1:3 risk reward ratio. There is still profit to be made even if you're direction neutral. Making money in the markets has always been mind over matter. Control only what you can.
by IkanBilisCapital