During the weekends, typically I analyze the Swing trade setups, as well as the trade reviews of the previous week.

I would like to suggest 2 AUD swing trades, based on the Daily charts.

 

 

  1. AUDUSD Short Trade

Below is the daily chart of AUDUSD.  The trend is obviously down.  The last 2 candles are blocked by a) 55EMA, b) Role Reversal resistance.

Since the candle touched 55EMA, the price may not make Lower Low.  But still, I am expecting to go down to MS1 (0.6956).

2015-09-20_21-18-37-AU1

However, looking at H4 chart, this is very bullish – making series of HH and HL, riding 21EMA.  So don’t blindly sell this pair.  The price may make another HH and HL though I see Bearish divergence on H4 chart.   Please remember my basic plan was created on the Daily chart (Above).  So it may take a long time to be ready.  I am expecting that sometime this week, AUDUSD will make Lower Low on H4 chart.  If that happens, then get ready and wait for Lower High to sell!

2015-09-20_21-21-36-AU2

 

 

 

2. EURAUD

2nd AUD pair for Swing Trade is EURAUD.

Again, take a look at the Daily chart.  This is still the up trend, and the Stochastic is reaching down to 25% level.  The last 3 candles are supported by MPP.  Thus I am expecting this pair to go up sometime soon.

2015-09-20_21-25-54-EA1

 

Looking at H4 chart, the price has been in the range bound.  So I came up with 3 scenario to buy this pair.

Below is “Long Scenario 1”, to buy from the current level – Bottom of the range & Double buttom.  I wouldn’t call it crazy to buy from this level, though we can call it a “betting”.  The reason why I think this is possible is… Stop can be small – just below the bottom of the range.

2015-09-20_21-28-29-EA2

 

2nd Long entry point is…  just wait for HH, and Long from the following HL.

2015-09-20_21-28-29-EA3

 

The last entry is the most conservative one, to wait until the break of the ceiling, and long from there.

2015-09-20_21-28-29-EA4

 

 

In both pairs, I am expecting weaker AUD.

 

Again, these setups are based on the Daily charts.  So it may take a long time, or… AUD may keep stronger!  🙂

 

But I just hope you get the hint of Swing trade, and its setup from this post.

 

YJ Baik – Forex.Today @ Kyoto

 

 

 

 

 

 

 

 

 

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