AUD/USD Forex Signal - 12 May 2015

Adam Lemon

AUD/USD Signal Update

Yesterday’s signals were not triggered as there was no bearish price action at the bearish trend line when it was hit a few hours ago.

Today’s AUD/USD Signals

Risk 0.75%

Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.

 

Long Trade 1

  • Long entry following some bullish price action on the H1 time frame immediately upon the first test of the broken bearish trend line currently at around 0.7906.

  • Put the stop loss 1 pip below the local swing low.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

 

Long Trade 2

  • Long entry following some bullish price action on the H1 time frame immediately upon the next retest of the bullish trend line currently at around 0.7838.

  • Put the stop loss 1 pip below the local swing low.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

 

Long Trade 3

  • Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7805.

  • Put the stop loss 1 pip below the local swing low.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

 

Short Trade 1

  • Short entry following bearish price action on the H1 time frame immediately upon the next entry into the zone between 0.8027 and 0.8073.

  • Place the stop loss 1 pip above the local swing high.

  • Move the stop loss to break even once the trade is 20 pips in profit.

  • Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

AUD/USD Analysis

We have had a move up during the Asian session and a clear break above the bearish upper triangle trend line, suggesting a bullish move up to the 0.8000 area. However we are about to get the release of the Australian Annual Budget which could cause a surprise move in any direction.

AUDUSD 51215

At 10:30am today London time there will be a release of the Australian Annual Budget.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

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