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Trading head on into news, combining 2 important data together – how to do it

We have RBA early in the morning. Nothing change, so not surprising to know that AUD moved up.

 

With this piece of information, I went in search of opportunity. This is what I found.

HTF level

After you’ve seen these chart below, you won’t be surprised why AUDNZD stopped here. This is a very strong support level

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HTF part 1

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HTF part 2 all the way back to 1993

 

What LTF says

We might be seeing a potential H1 Box bullish expansion (daily box expansion), pending close today. I also mapped out an ED, if there is a close above this ED, then trend might be turning up temporarily. I hope that next 4 hr close can confirm something on this close. Of course, a more firm note on this close will be on a day close. Resistance at 1.09 holds strong though.

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ED

 

Updated on 4 nov 10.27am

RBA did not send AUD lower. Instead, GDT was worse than expected, sending NZD lower.

I was triggered into AUDNZD long on a H4 close, at 6pm and 10pm respectively. Because this is a reversal trade, I was still caution about it. Price has day close, but again travelled too far from the ED breakout point. Will be looking at retracement for reentry, but noting that next resistance at 1.09.

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AUDNZD H1 box bullish expansion

 

This trade was also brought up by @sohtionghum

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2 thoughts on “Trading head on into news, combining 2 important data together – how to do it”

  1. Soh Tiong Hum says:

    Lol. I got this out before you… yesterday!

  2. Wern Farrago says:

    inverse h&s then? v ugly one if so lol

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