AUD,NZD/FXWW News/Trade Ideas

AUD: Looking heavy on the crosses

  • EUR/AUD closed back above it’s previous pivot at 1.4750.
  • AUD/JPY fell vertically at times yesterday.
  • AUD/USD was stalled by Sovereign bids yesterday ahead below .9040 but has failed to bounce much.

I remain long of AUD/USD with a stop below .8950 as I feel we will get extended range trading between .90/.93 ahead of the general election. The present risk environment is obviously against this trade but excessive short-positioning and the risk-reward ratio are both in my favour.

  1. Hi Sean,

    Is there any possibility gbpaud is forming double top at 1.733? Sorry for a novice question. By the way, i managed to book my first over 100 pips profit in audusd trade recently. Thanks to your precious guide.

    Muhammad

  2. Good to hear Muhammad. Stay patient, wait for another good risk-reward opportunity to make 100 pips, and make that your trading strategy. 2 trades per week, 1 right and 1 wrong, make 100 pips lose 40 pips. That’s the way to make money swing trading but you need patience.
    https://www.tradingview.com/x/1BvbRHnD/ definitely possible but v early days, first needs to form daily top below 17350, but worth watching, thanks

  3. Sean,

    Thank you very much. The most important lesson i learn after following your blog is your patient to wait for the right timing which, in contrast, is my big weakness. I really owe you.

    Muhammad

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