After a stonking run higher we’ve seeing some weakness creep into the Aussie.

 

Helped along by a more Hawkish tone from the Fed..- The top of the channel did indeed give the reversal sign last week as posted here. Now is the difficult part, namely where to close a winner / or take partial profits.

Glancing at the chart there is no obvious level in sight – So I have opted to hold and aim to take half profits down at the 23.6% of the move higher from the beginning of December last year, also the channel bottom. I’m wary of a flip back and retrace here, so watching the candles for clues as always.

In the event of a retrace higher I will be looking to add / renew a short position at the underside of the lower channel line.

 

 

AUDUSD Hourly

 

The sell position re- posted below …..Really could not have been clearer with hindsight;

 

 

 

AUDUSD Hourly

 

—Update 12:32 pm GMT——-

 

AUDUSD Hourly

Horatio Dubsly

Horatio Dubsly

Collects more scalps than Crazy Horse and newly crowned Bitcoin top calling master.
Philosophy: "Trading rules.....it most certainly does"

Read how Horatio got into trading here
Horatio Dubsly

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