Friday 24 February 2012

AUS/USD Long set-up

We saw a strong UP day/ bullish outside bar yesterday in the Aussie and I have been looking for an opportunity to get long with the prevailing trend and immediate momentum today.  As illustrated below we have a nice set-up on the 4hr chart with 2 decisive hammers forming side-by-side and a false break of the trend line on the lower time frames.  I have entered a long and if we can break through the daily consolidation area (blue line) will be looking to add more contracts.

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