I have been trading AUDUSD with a long bias this week and it has been a very slow grind.
Nothing in the chart to get me interested in a trade at this time. I will be watching for a long trade again down towards 0.7815 and the 50% of the October low/highs. We also have the 38.2% from the rip higher from early May, though this has been broken on previous occasions. We could have an inverse head and shoulders set-up marked in magenta on the chart. I will be seeking to buy on the right shoulder going into next week. Playing between the two big levels 0.78 – 0.79 for now until we get a clearer picture of the next direction.
AUDUSD-H4
AUDUSD-H1 zoom
Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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