Sell option on AUDUSD, markets breaking a smaller up trend on the 4hr with clear gravitation towards a very obviously support level on the higher time frames, again, probably a lot of liquidity awaiting around this level. Clear road ahead in terms of fundamentals for AUD, as well as for USD now after having the higher impact releases earlier today, nothing unexpected so the markets not being affected on the higher time frames. We'll look to trail the 50 EMA with our stop as the volatility should stay low for a few days until market close, so once we pass entry and have a minor key level and the 50 EMA as protection we can look to make this risk free.
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Stop has been moved to entry for a risk free trade.
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Now seeing the first signs up deceleration on the 1hr TF as we approach that major support level. Reversing bullish candle as being displayed on the 1hr is more than likely just a retest, we won't make any rash decisions and close just yet. We are running at about 30 pips, but after a pull back potentially the 50 EMA on the hourly TF we could see continuation to the downside.
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Stop has been moved to lock in 30 pips / 1%.
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Taken out at 0.67220 for 2%.