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AUDUSD: Finally in a bullish market condition

It’s been difficult to find trading opportunities this week (other than in the USDCAD), but apparently the end of the week has something for us. The AUDUSD broke an important long term resistance level:

AUDUSD

AUDUSD

This puts the AUDUSD in a bullish market condition, therefore only long positions are in play.

Here is my trading plan:

As long as the AUDUSD trades above 0.9335 I will be looking for long trading opportunities. All TP orders will be set below the next LT resistance level 0.9485

All short opportunities will be ignored.

Trade Safe!

Raul Lopez

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This entry was posted on Thursday, November 12th, 2009 at 3:28 am and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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