(Updated) AUDUSD having a core price action confirmation of a very rare 1:5 R entry!
US President Donald Trump just comments on USD. He said Dollar is too strong and don’t want to interfere Yellen yet (may be in future, he won’t extent Yellen’s time as Chair) .
Dollar index falling against G10 currency pairs. Gold having party and already crossed the resistant 1283.
Price Action Changed in AUDUSD:
After the surprise comment from Mr.Trump AUDUSD surged and broke the previous high and a closing above .75036 is likely possible as ‘Bull’ returns. The A category entry is no more (actually, no price action short entry valid anymore). We will wait to see next price action from AUDUSD.
I know, its kind of odd to miss such a great opportunity. Mr. Trump is acting like Chinese authority who manipulate currency whenever they want!
As I am telling you guys that AUDUSD is my most favorite major pair since November 2016 as it’s following pure price action without any noise.
Price Action of AUDUSD broke the most significant Major Support .75036 (Your broker might have a different price.) Actually, it is the high of June 09, 2016. The market is following this price ever since!
We had a price broke out yesterday as its close below Support and Lower high trendline (Tuesday) and having a confirmation candle today (which is most significant according to your Core Price Action strategy), and already made a new lower low in Daily candle. We are looking for a bearish closing below of the yesterday’s closing. Which is below of .74964 and we should see it if there is no dramatic change in next 3 hours!
What is an ‘A Category Entry’?
This is the most significant category and very rare entry according to core price action where market never fakeout in last 40 years of trading history!
What is that mean for you? Actually, Market won’t go back more than 50 pips from the closing of today’s candle (if candle close below .74964). And next destination of AUDUSD is finding a support. Nearest minor support is .7369 (Low of Dec01,2016). I took as much as 5-10% risk (by 2 different entry). And current entry has a 1:5 risk reward ratio!
What is my full Trading Plan?
I will add short as soon as the new candle created after the Daily Closing (not even 1 minute before). My Full Target is .7315 as you can see the most significant upcoming Major support is .73102. Which is also just before 76.4% fibo.
However, I will divide my entries with 2 positions, first one will run till .7369 and next one is till .73102. (My TP will definitely be few pips higher than the actual price action lines). And I will not use any SL as Job data coming tomorrow morning. Actually, Tomorrow’s news should help AUDUSD to plunge.
I don’t suggest you taking risk more than 5%. Which mean you can earn at least 20% if you take 5% risk! That is amazing.
All the best for you guys. Subscribe with us to get access our Private Forum. There are another 3 entries coming tomorrow. $199 is the fraction of the price you earn from a single entry.