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Joined Jan 2006
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Status: Always look at both scenarios
|640 Posts
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AUDUSD
As I mentioned in my analysis last night, I was waiting for a lower BAT breach which came at the open last night. Following a BAT breach there usually follows a nice bounce before the larger new trend can assert itself again. This level also happened to include a TDST support level and weekly and daily thrust supports. Having considered all of this analysis I am happy to look for multi-timeframe signals that we will get a bounce from here.
This morning I believe we are seeing clear signals that a bounce from current levels is imminent. As you can see from my attached images, we have a 4 hour TD buy setup, a 1 hour TDF buy setup, a 15 minute TDST bounce and a 5 minute TDF buy setup. I have gone long on the back of the 5 minute TDF buy setup at 0.8834 and 0.8829 as we have pulled back a little as I type. I have added a protective stop at 0.8794.
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Joined Apr 2006
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Status: Spot FX Trader
|126 Posts
foggytrader, I think you just got shaken out of the trade on AUDUSD but its still a good pair to go long , waiting for a signal to go long, hopefully will get one once NY session resumes but I have alreay missed two chances inlcuding yours to go long
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Joined Jan 2006
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Status: Always look at both scenarios
|640 Posts
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AUDUSD
Yes you are right FXSnipe I was unfortunately taken out and I have been busy doing my first trading webinar this morning that I missed the re-entry signal on the 5 minute chart. As you can see it is actually the second bullish thrust after the stop out and a new TDF buy setup, so nice entry and I hope anyone else following my thread caught this move. The entry is looking quite progressive now.
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Joined Jan 2006
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Status: Always look at both scenarios
|640 Posts
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GBPCHF
This pair has reached my prefered selling level. Following the completion of a daily TDF sell setup I am going to attempt some short positions here although the BAT is bullish, however, due to that fact, this will be a light entry. My prefered selling level is close to the 1 hour TDST resistance and we have completed a TD sell setup on that timeframe while we have also completed a TD sell setup on the 15 minute chart.
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Joined Jan 2006
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Status: Always look at both scenarios
|640 Posts
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GBPCHF & GBPUSD
I have added another position on GBPCHF, but it appears we might need to see GBPUSD test my 1.6046 level before the weakness appears, hopefully my stoploss level will hold. We are about to touch the GBPUSD level as I type.