AUDUSD 12 to 1 win vs Risk - Trade is going Long

Hello all

After a few false starts -(see related idea I posted a few weeks ago below) with the bullish engulfing daily candle today (dependant on your broker), I do expect the 61.8 retrace of the first leg now to continue higher up to near 0.7450 area )once the gaps is filled today on a small retrace)

This will be a trade to hold for a few weeks, however when it goes, it will go higher quickly.

Some short term sentiment news will drive the power moves, however I do expect dollar weakness across the board and all XXX USD pairs to go up and USD XXX pairs to go down. (be mindful of Yen pairs as they do move differently.

I also expect Gold to move higher too. Last week price action was a complex retrace only

Thanks for reading

duncanforex.com coming soon

Trade attivo:

hi all, on the 1 hour chart, it has printed a butterfly pattern, I have entered a second position long at 0.6872, however with a decent gap below the low for my stop loss to allow some movement.

Trade attivo:

hello all, just to update, I now have 4 positions open. i'm expecting a bullish daily candle to close tonight. its taken a few days and some sideways action after the butterfly pattern, however I think this trade will now take off long for the next few weeks

Trade attivo:

Hi all
Trade is still live although slightly sideways in price action over the past few days.
I still remain bullish.

Trade attivo:

Trades going well. 2 positions will have tight stops for news. 2 positions will have stops at breakeven to see how it unfolds. As I do expect it to continue higher

Trade attivo:

Hi All - two positions closed at 0.7000 - the other two are currently with stops at 0.6960

Commento:

I meant to add - it has created an inside day bar - therefore if it breaks the high on tomorrows NFP news - i expect it to rocket higher