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Sep 24

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Nice Piece of Technical Action to end the week on AUDUSD (+31pips)

Only wanted to trade 1/2 day today as it’s my turn to cook (yeah even traders have to score brownie points and do normal things) but the charts this morning really looked like a pile of horse shit.

The Yen pairs were all over the place after some intervention in the Asia session only for them to fall back sharply again.

CHF Pairs were virtually all knocking on the doors of major points of support, but without conviction.

The Euro$ and Cable can’t make their minds up, like yesterday

I did though spot on the AUDUSD chart a nice hatrick of signals that gave me interest. You know when they say, don’t force a trade it will show itself? Well this one leapt out of the chart. You can see from the picture below 3 very clear technical indicators :

> 1-2-3 pattern

>Double Bottom

>Daily Pivot tested three times and crossed.

Technical Action in Action

And to boot the overall 4H trend was in the direction the trade was telling me to go. Anyway, got filled both ends at 08:25 and 10:30 respectively. Great, now I can enjoy the crap weather but mor importantly the 2nd week positive after looking at the bigger pictures !

All the best

Jim G

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