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Aussiedollar

GBP / AUD - Wait for the kangaroo bounce - SHORTThe pound is bouncing back at the moment, but remember we're in a downtrend, that means we must be patient to find a level of weakness to sell it back down, and the Aussie has bounced back too, so at some point one of them will lose and it will be the one that cannot sustain long term growth without indecision and with Brexit looming, that can only be the Sterling. I expect the pound to rebound to either of these resistance levels, look for a "two try" rejection, wait for a price action signal and a move similar to this, try one, try twice and then don't make the move higher on the third try, price action rejection, sell.... I will update this pair as we go. I've done a longer-term analysis to support this, see link below, this pair have made me over 1000 pips of profits this year, you can too with patience and knowledge and not just waiting for sell signals from others.
Short
by CBMotivation
4
AUDUSD - Respecting Rgresion Trend Channel - Long Opp As highlighted in the chart , the Aussie has been trending in a nice bullish channel on the weekly timeframe since Q3 2015 and we are currently seeing a test of trendline support which was last tested in December 2016 and preceeded a bounce from 0.71 to 0.76 Looking forward from today it would not be unrealistic to expect rates to cross the centre line which would take us to 0.786 as an interim target with max target currently 0.82-3 based on the grad,if we project forward using the angle of the last wave up we could expect to reach the target in 12 bars (84 days) If we see a breakdown below the sloping support line then the author suggests stops to be placed just under the May 2017 dip (0.73285) which will give a risk reward of just above 3:1 on the trade , in the event of a drop below the trendline we'd like to see to see a strong bullish engulfing candle (see the Jan 2016 dip) to retain conviction in the trend dynamic. Summary Buy at Support on the regression trendline, initial stop at 0.73285, target 0.82-3, trail stop on close above centre line
Long
by TJP_Trader
AUDUSD: Avoid Noise And Let Market Find More Attraxtive Level.AUDUSD update: Consolidating price action after the recent leg of bearish momentum found buyers at the .7400 area. This is probably the most random type of price behavior a market can exhibit which means one thing for us: avoid. Momentum is still bearish even though recent price structure offers the appearance of some minor stability. Often these type of formations within this context serve as continuation patterns. My recent report in the GBP highlighted a similar condition which has been proven correct so far as price has explored lower levels. For the purpose of issuing a signal to our followers on S.C., the .7374 and .7351 reversal zone boundaries serve as the general area to evaluate potential reversal patterns. This means on a day trading basis, there is plenty of potential short opportunity, but you really must be nimble to avoid getting caught in any noise that is occurring on this time frame. The .7564 (.382 of recent bearish structure) and areas above offer much more attractive reward/risk for any potential swing trades on the short side. In summary, range bound markets may be tempting at times, and may even offer opportunities on smaller time frames. From a swing trading standpoint, randomness is high which means our criteria for a long or short is far from being met. Let the market decide where it wants to go and until it offers a more attractive scenario, there is no reason to take any action. Check out S.C. for a recent update on EUR/USD and Gold markets as well. Questions and comments welcome.
by MarcPMarkets
2
Aussie Oi Oi Oi! - Ichimoku Long AUD/USD Trade IdeaWe rode this one down for some nice profit last week, and now signs have reversed. We've broken up into the cloud then out. I am looking to take advantage of this temporary USD weakness to get in a long position. I am looking for a drop to support then up and back out again with our TP at a strong level of support/resistance. If support fails to hold or our bullish confirmations change to bearish, this setup may become invalidated.
Long
by The808Trader
AUD/USDAU made 7 swings down creating an over lapping diagonal pattern breaking trend line creating a smaller diagonal as it did so. It can extend down a little more. We don't have full confirmation of reversal, but you do see the bands and the level that it is at. I believe it to be in correction, which considering the price action on the weekly I would expect a more complex pattern, and as far as the wave pattern goes it would be totally possible for it to go up to break the high in a double combo 7 swing pattern, in which case it would probably not break the last low, however it can... That pattern could extend all the way up to that zone.... 38% from this very spot lines up exactly with the level u see marked. I'm not saying to just swing it and go for that, but I see it as very possible considering that this is the exact pattern it has made up to this point.....
Long
by thillygoosth
GBP/AUD Long day trade - +1.3% Good evening everyone, sharing a great trade I took on Monday on FX_IDC:GBPAUD What initially caught my eye was the rejection of the 1.8200 support level followed by the break of the descending phase line. Entered couple of hours before the London open before the usual volume expansion, TP order was hit pretty quickly. Please feel free to write me a PM if you wish to know more about the strategies that I use to consistently pull money out of the markets. Have a great Sunday evening
by UnknownUnicorn485324