This pair has been range bound since April and has been in and out of the range area bouncing off a rising trend line since 2015. RSI is now declining after rejecting the high of the channel for the fourth time and I'm setting a buy order @0.74 with a trailing stop below previous support and the trend line down @0.73 so reduce your leverage to ensure it's within your account management policy, I'm looking for a bigger move out of the channel up @0.76.
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We're still moving down for our entry price @0.73955 where I have a buy order waiting
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Aussie broke straight through the channel and bounced off the long-term trend line, looking for a two-legged pullback to take a Long position.
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This is what the pullback will look like, it's already tested the low and held it twice, two legs, now I want the final pullback to hold on the 1H timeframe, but I want to see a bullish signal on 4h and daily as well, it's not impossible to break through that trend line and continue to the downside.
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This will pullback to support now
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Trade is still active and going sideways and after nearly a few weeks, now at breakeven
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This thing has not moved for a month.... YAWN!
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We're actually starting to move north, only taken a month.