The AUDUSD traded for a long time in a short term range around an important LT level, to be accurate, it traded in that range since the 12th of May, and it just broke that level than, so it is a significant breakout and I look forward to get a short signal:
As long as the AUDUSD keeps trading below 1.0451 I’ll be looking for short opportunities.
Trade Safe!
Raul Lopez
Free Advanced Forex Course
I’ve been waiting for a signal in the AUDUSD since it broke the LT resistance level, since it has been trading around historical highs:
Since we have no LT resistance levels, I’ll use a 3:1 risk reward ratio.
Here are the details of my trade:
Entry: 1.0903
SL: 1.0851
TP: 1.1059
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD has been trading around historical highs for a while now, and to tell you the truth, it looks like it has no intention to retrace back (not even to get some impulse), so there is nothing else to do here than look for long opportunities:
Since we have no LT resistance levels, if I find my signal to go long I will use a 3:1 Risk-reward ratio to set my TP order.
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD has been rejected from the main LT resistance level triggering a bearish market condition:
The next LT support level is at 0.9889. As long as it trades below 1.0062 I’ll be looking for short opportunities.
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD is trading near a long term level around 0.9917. If you take a look at the short term charts, you’ll see that it is ranging in a not well defined around 0.9990 and 0.9826:
The short term range is not well defined, therefore I’ll wait for the AUDUSD to break the short term range, and then I’ll look for trades in the direction of the breakout.
Trade Safe!
Raul Lopez
Forex Courses
A few days back I wrote about the AUDUSD and its bearish market condition, It was in a bearish market condition but it retraced back and entered again in to the ST range, that’s the reason we always need to take into consideration the ST range.
Now the market condition of the AUDUSD has changed, it broke through an important ST resistance level triggering a bullish market condition. As long as it trades above 0.9970 I will be looking for long opportunities:
The next LT resistance level is at 1.0178
Trade Safe!
Raul Lopez
Forex Training
Yesterday the AUDUSD broke through an important ST support level triggering a bearish market condition, as long as the AUDUSD keeps trading below 0.9887 I will be looking for short opportunities:
The next LT support level in the AUDUSD is at 0.9574 (around 300 pips away from where the market is currently trading).
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD is trading in a bullish market condition, only long opportunities are in play. As long as the AUDUSD trades above the parity, I’ll be looking for long opportunities (the parity will always be an important psychological level):
The next LT resistance level is at 1.0171
Trade Safe!
Raul Lopez
Price Action
Yesterday the AUDUSD was trading in a short term range around an important level, but earlier today it broke through the ST support level triggering a bearish market condition:
I’ll be looking for short opportunities as long as it trades below 0.9941. Its important to notice also that the AUDUSD was rejected from the parity level (an important psychological level).
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD is trading in a bearish market condition, it broke through an important LT support level around 0.9721. This is my daily chart:
For those trading using traditional technical patterns it has also completed and validated (broke the neckline) a H&S pattern.
Only short opportunities will be taken in consideration (all long opportunities will be ignored).
Trade Safe!
Raul Lopez
Forex Training
Last time I wrote about the AUDUSD trading at historical highs I got a few emails asking me why would I look for long opportunities there if the market is likely to retrace.
There is a simple answer to that questions, if the market is going up, its easier for me to look for long opportunities, bulls are winning the battle after all and upward moves are more likely. I’ll stop looking for long opportunities when the AUDUSD tells me that it doesn’t have enough steam anymore, only then I’ll stop looking for long opportunities, for now, I still think the Australian Dollar has more room left:
I’ll be looking for long opportunities around the green lines, which are ST S&R levels (both, retracement and breakout signals are in play).
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD is trading at historical highs, yesterday it broke through an important LT resistance level triggering a bullish market condition:
For sure we need to be looking for long opportunities, but where should we set the TP order?
When the market is either trading at historical highs or historical lows, I use a 3:1 risk reward ration, because its impossible to predict where the market is going to retrace. And of course, I help myself with position management.
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD is trading in a bullish market condition, only long opportunities are in play:
If this hour candlestick closes around 0.9954 (where the yellow line is) it will trigger a long signal. It will have the three things that a look for when I enter the market (based on price action):
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD was trading around an important LT resistance level: 0.9817, when it approached that level it started to trade in a ST range around 0.9771 and 0.9907:
A few minutes ago, the AUDUSD broke through that range triggering a bullish market condition, therefore only long opportunities are in play (shorts will be ignored).
As long as the Australian dollar trades above 0.9907 I will be looking for long opportunities. It is trading at historical highs, I’ll use a 3:1 risk-reward ratio.
Trade Safe!
Raul Lopez
Forex Training
The AUDUSD just broke through an important LT (and a ST) resistance level triggering a bullish market condition:
As long as the AUDUSD trades above 0.9644 I will be looking for long opportunities (maybe around the green support level at 0.9644).
Trade Safe!
Raul Lopez
Forex Training