Inside the Currency Market: AUD/USD

AUD/USD. Bottom. 0.7088. Range break above 0.7147 and 0.7195, below 0.7099 and 0.7005. Overbought sell point 0.7147, matches range point caution. Strategy. Longs above 0.7124, target 0.7147. points on the way up, 0.7127, 0.7135, 0.7147.

Shorts below 0.7123, Target 0.7105. Watch here for reversal higher to 0.7123. points on the way down, 0.7117, 0.7111, 0.7107, 0.7098, 0.7088 Bottom.

Again, no thrills in AUD. AUD needs a range break to see a significant move otherwise, price is ranging around.

Brian Twomey, Inside the Currency Market, btwomey.com

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One thought on “Inside the Currency Market: AUD/USD

  1. Hi Brian hope You had a good Week-end. I see You send orders all the time one should be at the computer 24 hours a day, Anyway I really like to understand better how You enter a trade. First of all which TF You use and do You use any indcators? I mean lets take this AUD/USD
    So when One is supposed to enter a trade either way short or long. Is it when You say Short at o.7123 TG 0.7105and on the way up long at 0.7124 TG 0.7147 and concentrate only on this and forget all the rest You mention ranges etc etc because with all these others additions I honestly get very confused. Where in which TF You see these ranges and possible reverses? If one knows then would be easier to understand what is going on
    Would be better just give entry order when to sell and when to buy and the TG instead of all those variations so Someone that is not a top professional like You would just follow this orders and would be up to him to handle the trades on those orders. Could be Ok for one currency but when there are more than one then it is a real problem to follow every suggestions and variations that You add all the time.
    I apologise if I am making this comment but I have to be honest I hardly try to enter any trade I did one with euro and I lost over 150 pips and then I I was asking myself heree we are new orders at differeent price whici one I should enter? Really don’t know so I did not enter any
    Maybe I should stop following because I believe Your trading is just for professionals and not for someone like me that has very little knowledge of the Forex world. What Do You think? I just do not get why You never mention Stop Losses
    Thank You for Your patience reading this comment Have a good day ralfhy

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