Long AUDUSD @ 1.0296

0.20 gmt

Many factors are aligned here for a long entry:

1. Strong support re-affirmed at 1.02 / 1.015

2. AUD is near the bottom of its recent range

3. A doji at the bottom edge of the weekly triangle

4. On the short-term charts (4 hr and 1 hr) a bullish breakout of recent consolidation.

And the system has also indicated a long entry. I am therefore long as follows:

Long $200/pip AUDUSD @ 1.0296. SL around 1.0245, and more definitely around 1.0195.

p.s. As I write this I note that the AUDUSD has tumbled a quick 15 pips! My idea to fade the rise for a quick 20-30 pips was right, but I didn’t  have the confidence to stay the plan.

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