Friday, October 19, 2012

AUDUSD Long Trade Setup

I am watching this channel from past few trading sessions. Details [here]. AUDUSD Short Trade
Price has broken above descending channel and horizontal resistance area, so more gains can't be ruled out. I am expecting this channel and horizontal area to hold on nay pullbacks. It will be then resistance-turned-support. 200MA also comes near to horizontal area.

My plan is to go long on any dips towards channel and horizontal resistance area.

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