I can't remember the last time I traded the Aussie. After holding previous structure highs at 81 cents I really haven't had an opportunity that interested me. Recently we've broken below those double top lows at 78 cents initially putting short opportunities on my watch list. long-term this is still the case, however the recent break above close above & the formation of the previous candles gives signs of a potential false breakout and perhap[s another move higher. (I really hope that's not as confusing as it sounds.) - Basically what I'm saying is, although I don't really have a long term bias on this pair, I'll be looking for intraday buying opportunities in the live room today.
Akil "Kind of Strange That The NBA Season Is Starting So Soon...but I kind of Like it"
Can't understand your logic of long, it's down from the moment you commented!!!
AndileMkhize
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i'm in the trade:- 4H-hidden divergence complete, price rejection @ 0.38-tick, pin-bar - tick...T1 - retest previous highs...only afraid of the news now.
Akil_Stokes
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@mkhize12, Well done, good luck in your trading opportunity
Dpk.Htkr
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Master, if we get filled, what would be our target?
Akil_Stokes
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@dpk.Htkr, There's not way i can tell you where to take targets at since I don't know how you're supposed to be trading this setup as, but your trading plan should be able to answer that for you
Dpk.Htkr
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@Akil_Stokes, You alon with Jason Stapelton and Jason Graystone will always be my role model. Have a great day!
Akil_Stokes
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@dpk.Htkr, I hope that didn't sound rude as I had to rush my response before my live room started. But, the targets will depend on the trading opportunity and because the opportunity hasn't occurred yet I don't know my target placement. However, if this is a trading opportunity that you're allowed to take then you should have a rule on how/where to take targets. If not, then it's something that you shouldn't be trading. I just had an incident with a trader who was blindly following trades so I'm a little sensitive to the subject right now.
Dpk.Htkr
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@Akil_Stokes, No Master Akil, you weren't rude at all. Consider me a rookie trader. I follow your YouTube videos and trust me when I'm doing my analysis, I imitate you. I really think your syle of analysing the market helps me alot. I hope one day I'll be able to trade like you do. Regarding the trade, I'm not taking this trade because this pair is not available to trade in my country. I was just curious about this trade therefore the question. I sure you'll understand.
Sincerely,
Dpk.Htkr
Akil_Stokes
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@dpk.Htkr, thanks for understanding, we just reviewed this in a little more depth in our trading room and as of now I'd be looking for a retest of previous structure highs. This could end up becoming a head and shoulders pattern as well, in which you can make the case for a longer projection higher, but I'm not too sold on a bullish continuation here.
ysspavan
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Thanks for posting this I was struck in this position because I observed the Previous support which had blown yesterday however stops were in proper place..