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AUD/USD Forex signal - 22 April 2015

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

AUD/USD Signal Update

Yesterday’s signals were not triggered as there was no bearish price action when the price first reached 0.7716.

Today’s AUD/USD Signals

Risk 0.75%

Trades may only be taken between 8am London time and 5pm New York time only, or after 8am Tokyo time later.

Long Trade 1

• Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7682.

• Put the stop loss 1 pip below the local swing low.

• Adjust the stop loss to break even once the trade is 20 pips in profit.

• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

Long Trade 2

• Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7650.

• Put the stop loss 1 pip below the local swing low.

• Adjust the stop loss to break even once the trade is 20 pips in profit.

• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

Long Trade 3

• Go long following some bullish price action on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 0.7572.

• Put the stop loss 1 pip below the local swing low.

• Adjust the stop loss to break even once the trade is 20 pips in profit.

• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

Short Trade 1

• Go short following some bearish price action on the H1 time frame immediately upon the next retest of the bearish trend line currently sitting at around 0.7811.

• Put the stop loss 1 pip above the local swing high.

• Adjust the stop loss to break even once the trade is 20 pips in profit.

• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

Short Trade 2

• Go short following some bearish price action on the H1 time frame immediately upon the next retest of the bearish trend line currently sitting at around 0.7900.

• Put the stop loss 1 pip above the local swing high.

• Adjust the stop loss to break even once the trade is 20 pips in profit.

• Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

AUD/USD Analysis

We remain within the consolidating triangle but the picture is looking increasingly bullish following more positive economic data that was released in Australia earlier this morning. There are several horizontal levels and trend lines at which to look for entries relatively close to the price, but as the picture is congested, it is best to be careful. We may well see further consolidation.

AUD/USD Analysis

There are no more high-impact events scheduled today concerning either the USD or the AUD.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

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