Yes this channel needs to break cleanly with nice bearish engulfing candle.
thdehddns
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@ajebeyer, unfortunately, I close my orders with loss. Good luck .
ajebeyer
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@thdehddns, Thanks, man! just wait for the price action to develop. A nice bearish engulfing candle and a correction on lower tf will be signal to take trade short.
Entering counter trend in a channel is risky. Channels can hold for much longer than one would think collecting liquidity for bigger move.
thdehddns
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@ajebeyer, Hello Bro.. I think AUDUSD will be up... based on weekly chart. It seems to be bullish mode.... I think AUDUSD will be up.. but I do not open any order for audusd for a while. Thanks.
ajebeyer
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NZD and AUD are strongly affected by macro economics due to geographical proximity and both having commodity based currencies. I will be waiting for RBA later today to see if AUD will give us price action to sell or break up.
thdehddns
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I know aud and JPY were so bullish since China Tariff news... but.. now.. it seems to be loosing the bullish power. but.. How much longer the china news affect to current market? Is there any way for NZD to be strong?