With price currently towards bears profit taking target zone at MM1 and MS2, which is also lined up with the support levels at (0.75199) and (0.74575), plus applying my fib tool price is now at our 38.2 fib level and towards the 50 fib level. Note the stochs is also oversold and with 10Y currently approaching the resistance level at (123.155) which i hope it bounce back due to a negative reading due to NFP which i predict it will be. And with bears taking profit am looking to long the pair.

AUDUSDDaily

Identified supports at (0.75199) and (0.74575) and resistance at (0.75874) and (0.77277)

AUDUSDH4

note price is toward the profit taking target for bears at weekly pivots too and the stochs is also oversold. Am looking to long at (0.74548) with the stochs crossing the 80 line.

2 thoughts on “AUDUSD LONG POSITION 09/03/2017”

  1. Teboho Faro says:

    Awesome man Im also looking at weak NFP data

  2. Ryan Gandalf van Jaarsveld says:

    Hey Mokhine

    Trade plan makes sense. Would expect Bears to get to the weekly target and based on H1 make sure you have confirmation of Bears getting out before you jump in. If you don’t want to sell USD then take a look and see if you have any setups on any pairs that you are keen on selling like say maybe you were a Bear on the Euro or Pound. Unless you are a Bear on the Dollar?

    Best
    Ryan
    Coach @ MetaTraders.com
    Analyst @ Forex.Today
    Skype Ryan.Gandalf
    e-mail [email protected]

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