There should be some nice trading activity given the pullback to a firm support level around 0.9285 - 95 given 2 specific strategies we observe in our forums.
On one side, given the red DiNapoli displaced moving average, is a specific type of directional strategy as this correlates near to the support level.
On a different note, given thrust and the strong uptrend of this pair, it's also nearing the 10 period exponential moving average. All major moving averages, 10, 20, 50, 200 periods lie in line supporting the strong uptrend.
The indicator below is the DiNapoli MACD (moving average convergence divergence) indicator also illustrating the strong uptrend push.
One might pin point an entry with a bias to a long position dropping to a shorter intraday time frame correlating this to a directional pattern to support the reasoning for entry and risk management.
These are issues we cover "live" in the community eChat room and advanced board postings given the myriad of details and multiple play options that could be done here.
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I just wanted to continue the prior post on a new thread since I took a 22 pip trade after market open on the AUD.USD to close based on a 30 min after price hit at the daily K below.
It happened in the first 90 minutes of market open today (Sunday) where the pair does continue higher. The actual trade is listed on our secured forums. I will create a follow up based on the daily here.
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