I placed a 1 lot order to buy at .9152 around 10:30 EST. On the 4H chart, I saw a perfect morning doji form then a strong bullish candle that followed as stochastics crossed over the 20. As I am typing I’m up 33 pips. I will hold for a swing trade.
S.
I got in long again on the pull back this morning. I thought considering the bullish news for the USD and given how AUD hasn’t taken a break, the pull back was weak. Which to me signals this has some room to go higher. Anyone care to comment?
Yes, Aussie is forming a rising channell on a 4H chart. Stoch’s are falling at the moment AM EST but look to remain on the rise. I use ICYCLOUD system: today formed first PSAR, albeit inside the bollinger lines. Sometimes ya just gotta go outside the parameters. (Or inside as in this case) My SL is break even @ .9152.
S.
Keep me posted.
Cautious when going short on the aussie maybe for few months to come. There is really going to be strong moves to upside unfolding next week and or 2. Price action says it.
Topchess:
Yes, strong pullbacks but what was the last minute surge in U/J, A/U, E/J, G/Y on friday? Was it new? Or just excitement? Can you elucidate?
S.
I guess so. .9300 and 0.9400 options are not easy, but you may consider buying dips like scaling in. As stocks surge, and high yielders can perform better only in the near term though, buy dips to 0.9200 / 0.9100 and tgt 0.9400
Thanks.
I will wait n See if it goes bellow 94. At this stage I m new and I like to do few trades a day, may be thts why I m in like this situation. Wht is the best method daily or longer?