AUDUSD: Waiting for a pullback

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Good day traders!

The big picture of the pair look like this:

AUDUSD Weekly

Technically;

  1. AUDUSD is lining up for a good bull when a bullish harami pattern confirmed.
  2. RSI weekly supports this view when it stays just a slightly above the equilibrium level.
  3. Lets have a sneak at our H1 time frame now to look for the entry;
  4. AUDUSD H1

  5. I reckon we wait for a pullback as both of our indicators; RSI and Stochastic, are both in the overbought territory.
  6. Both the 1.03268 and 10 EMA can be use as the entry, so keep you eyes on this levels closely. You can have the option to use ATR as the stop loss while trailing it manually in the coming weeks.
  7. The game now is patient.

I’m strongly bias to the upside.

Shufaad

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Trading Philosophy

“You can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere.”

—Lee Iacocca: Businessman, author, former CEO of Chrysler Corporation

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