Now that Fed Chair J. Yellen , has confirm that rate hike will happen if Labour Market and inflation outlook continues to improve. My bias will remain bullish for the long term.
Due to the fact that Australian economy is amongst other dependent of Gold price , which we know will fall with the RISK ON situation brought by the improvement of US Economy, my bias will thus be Bearishg on AUSSIE.

MARKET DIRECTION : Bullish 21 above 55 ema. PRICE DIRECTION: Flat . STOCHASTIC: moving down, already broke down 80 level. The pair has been ranging since the beginning of the month between psych level 0.770( top of range) and 0.760(bottom of range).I believe with the greenbuck strength we may see a break of the range to the down side. and will look for opportunities to sell . Resistance is found at 0.77 below MR1 . Support:#1. MM3 /psych level 0.760/dynamic support 21 ema #2. MPP/0.0745. Note the downward move indicated on the chart may take time to become real, please refer to smaller time frame charts and comments for more immediate sell opportunities.

MARKET DIRECTION :Flat. PRICE DIRECTION : Flat Stochastic: moving down, note the stoch divergence that shows that fewer there is fewer bulls in the market. RESISTANCE: #1 WPP/CONFLUENCE DM3. #2 WR1/PSYCH LEVEL 0.770/CONFLUENCE DR2 =TOP of the range. SUPPORT: WM1 /PSYCH LEVEL 0.760/ CONFLUENCE DS2 & MM3.=Bottom of range. Ideally one should wait for the break of range to sell at the pullback , but I will sell at one of the resistance levels mentioned depending of price action , if price start making lower highs at resistance #1 , I will enter at M5 lower high target WM1. But it important to look at H1 stoch , will only sell if it s aligned , if it s overbought.

MARKET DIRECTION:21 and 55 converging ,signaling start of bearish trend. PRICE DIRECTION : Bearish 5 below 8 ema. STOCHASTIC: moving up RESISTANCE #1. DM3/CONFLUENCE WPP/Dynamic resistance 21 ema/ Bear fib zone level 38.2-61.8. #2.DR2/ psych level 0.770 SUPPORT:DM1/WM1/MM3/PSYCH LEVEL 0.760 NOTE:will wait for stoch to reach at least 50 level to sell the pair. Once price reach resistance and start , will look at smaller time frame M5, and sell at a lower high.

One thought on “SHORTING AUDUSD 15 FEB 2017”

  1. Ryan Gandalf van Jaarsveld says:

    Dear Julie

    Thank you for presenting this trade plan this morning – I see this was a trade plan for Asia and that price moved up instead of being short at WPP. If you look at the H4 chart you will notice the range – you did mention this in your plan. The strategy for trading a range is very specific – sell at the top and buy at the bottom – NEVER EVER trade in the middle. That is no man’s land. Whenever you find price in the middle of the range and you are tempted to trade think of the visual that Wayne gave us – it would be a very bad idea to have a picnic in the middle of a battlefield. You want to sell at levels where other bears are selling and bulls are not buying (the last part of that sentence is quite important). When you trade in the middle of the range you really don’t know if your fellow bears are with you or not – you can be sure that professionals are trading the range and watching the pigs die in the middle. Rather have a specific strategy for trading ranges and stick to it. If price has come off the bottom of the range and it’s half way up expect it to move to the top of the range. If you are wrong and bears do sell in the middle then your plan B is to trade the breakout. This will help give you confidence and avoid any unnecessary damage to your psych that comes from not following your rules, not being consistent and not doing what you know to be right. You can’t control the market though you can control your behavior.

    Ryan Gandalf
    Analyst Forex.Today
    e-mail: [email protected]
    Skype: Ryan.Gandalf

Leave a Reply

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