News event for the day that could affect this trade

. (USD) FOMC Member Kashkari Speech
. (USD) President Trump Speech
. (AUD) Employment Change s.a.
. (AUD) Unemployment Rate s.a.


AUDUSD is trading at daily support and role reversal level with stoch at oversold territory. I'd go into smaller time frame and look for buying opportunity


On H4, I'd wait for price to break the trendline, make a new high and I'll take the next retracement for a conservative entry. Alternatively for an aggressive entry, I'd put a buy stop order (purple horizontal line) just above 4hr structure high. President trump's speech and AUD job report due later today, market could use those news as catalyst to move the price higher and we don't want to miss the up move. Short term target: WM4 Monthly Swing Target: MR1

2 thoughts on “AUDUSD Daily Buy Setup – 12th Apr 2017”

  1. Tsholanang Tsholanang says:

    Killed it Man. got stopped at yesterday’s daily target after having bought at Dm2.

  2. Teboho Faro says:

    I love the setup

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.