I was very busy last week for some coaching, and didn't update my analysis.
AUD/USD is still in a strong trend !
Supported by
• ADX indicator gets above 30 on 12-Jul
• Price action breakout at 0.7708
• Tenkan-sen & Kijun-sen crossover on 6-Jun, price actions now above cloud
By watching the bar chart on the right. Look at the high price of the doji and low price of the red bar. They touch trendline 1 and 2 that are formed from 2016 and early 2017. I expect there are some consolidation for another leap.
If today’s high price higher than the high price of yesterday, I will go LONG the next day. Stop loss to be 5 to 10 pips under the low price of the red bar.
AUD/USD is still in a strong trend !
Supported by
• ADX indicator gets above 30 on 12-Jul
• Price action breakout at 0.7708
• Tenkan-sen & Kijun-sen crossover on 6-Jun, price actions now above cloud
By watching the bar chart on the right. Look at the high price of the doji and low price of the red bar. They touch trendline 1 and 2 that are formed from 2016 and early 2017. I expect there are some consolidation for another leap.
If today’s high price higher than the high price of yesterday, I will go LONG the next day. Stop loss to be 5 to 10 pips under the low price of the red bar.