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Today we took a short position in the AUDUSD pair. We saw clear resistance at 1.0262 and new we’d have a safe (as safe as forex trading can be) entry to short. We were optimistic that we could see a retest of the lows but price stalled...
This will be a new weekly feature where we review the start of the trading week and share our thoughts and bias for the remaining 48 hours (approximate) of trading for the week. AUDUSD: Like the Eurodollar, the Aussie started this week falling....
The AUDUSD weekly chart shows very bearish price action. There are a few swing lows (fractals) that potentially could act as minor support areas on the way down (see the chart), but this pair will likely test .9380 in the near future. Trade...
UPDATE: Loss taken on this trade, that’s trading. Seeking next opportunity now. 4 wins 1 loss for the week. UPDATE take 2: Further investigation into why I was wrong. First, I broke a rule and I did not look at the higher...
