Weakness helped along by a much lower October trade balance than expectations at A$105M vs A$1400M .

We are fast approaching  that line in the sand on the Aussie chart marked by the November lows (blue area) at 0.7531.

I caught my short trade very close to the top (red arrow) at 0.7650 and plan on lightening up here and taking some profits. We often get a small bounce as we close in on prior monthly lows and I always suggest locking in some gains at important levels on successful trades. I will watch the price action closely and add back to my short position if said lows are breached in the coming sessions .

 

AUDUSD-H1

Horatio Dubsly

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
Horatio Dubsly

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