AUDUSD Looking Good in the Range

06 Mar - AUDUSD Daily

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Hi All,

Just a quick update on AUDUSD. As mentioned on 3rd March (see article), I was looking for this pair to reverse on a nice support level (Green arrows) around 1.02 before it moves back into the range market.

And so it did… In fact, this pair made a nice – long tailed, small body – low test bar on Monday followed by a bullish – small tailed, long body – trend bar. Any thing can happen in the market but this set up is one of the few occasions where I would definitely call a Text Book set up.

If you missed this trade, make sure not to chase it, I recommend waiting for the next pull back before going long again. More importantly, make sure to follow your rules.

Thank you for reading and happy trading.

 

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