Last time i checked AUDUSD out we saw the push up from the lower demand level . I didnt enter as i wanted it to break above and retest the blue circle area before the next push up.
But now i believe this time i will enter the market lower. If price comes back down and holds the support level of 0.6686 and create an inverse H+S then i will enter a long position with a small stop loss, this gives potential for huge R:R.
Remember use correct risk management as always, no need for greed if you catch the swing. Enjoy the rest of your Sunday markets open in only a matter of hours
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As you so rightly point out there a potential inverse H+S there will give lovely long entry if the pattern holds . Enjoy your Sunday too mate
I think it could stay in this range for a bit
I was looking at that on Friday night. I agree with your analysis but I think price will range a little longer before breaking to the up side. My reasoning is I believe it will take smart money a little longer to accumulate their long positions before driving the market higher.
I like to see at least 10 to 20 bars in a trading range before entertaining a break out trade.
I have thought of buying a call on the March contract.
Cheers
Blackduck
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I think you are right.
Blackduck
Thanks for your analysis, will keep an eye on it tomorrow and see if the price comes back down.
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Nice analysis bud, will definitely be keeping it in mind when trading this week.
It does look good for a buy soon, will keep my eye on this one for sure…
This seems like a good pair for profiting. I`ll put it in my experimental strategy list.
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Been holding AUDUSD for a while so hope your analysis is right!
looks like a good setup, im not going to try and trade it but will be watching to see how it turns out
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I agree looks like a inverted head a s shoulders , if it forms could get a nice buy on this pair
I’m not sure it will push back down that low, some nice short term support levels at current area, so looking for PA long from the off this week.
ah i missed this one! 
how did you go?
what does blackduck mean?
Nothing. It’s just a name.
Blackduck
" Not this little Black Duck" - It’s an Australianism… not used much these days…
Q. “Can you can lose money trading Forex?”… A. " Yes you can… but not this little Black Duck"
It is used as an indication that the speaker is not so stupid as he is being taken to be, or that he or she is too wise to the ways of the world to be taken in by something or to agree to doing something that is against his or her best interests.
@Blackduck, has just used it as a name… but it does have a meaning to some.
OnTopic… The AUDUSD is well below the EMA 200 on the D1… aiming for low AUD$0.66’s
You are very perceptive.
Yes, “Not this little black duck.” Said by Daffy Duck in Cartoons.
Cheers
Blackduck
ah ok lol I see
Nice Profit shorting the AUD… wouldn’t want to be long just yet…