Looking to long AUDUSD this week. Following the recent selloff the price formed a hammer candlestick at the key support area. A confulence of horizontal support and fibonacci retracement level.
The trade idea will be invalid if breaks below 0.7780.
And today there is the RBA Rate Statement and Cash Rate, so I expect they will pump it and dump it. As in a stop hunt, then there will be a pin bar for down
john.greydanus
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@JOHN.greydanus, actually, another nice pin bar today, sell USD in line with the EURUSD trade idea, and USDCHF pin bar also
BoumrahEsmail
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Great chart and think you;
Chekan
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I agree
ApexLemur
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It doesn't look as if the market respected it, after the incident in Las Vegas this could definitely jump up though.
john.greydanus
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Very interesting, I noticed a lack of interest in this Pin Bar, perhaps most are thinking it will fail, good luck