🔥 Free GTFX Trade Setup Analysis 🔥

Pair: AUD/USD
Bias: Long

Reasons: AUD/USD has retraced now 11.5% from the high set in September/October last year, quite an incredible descent, though I was anticipating the wick fill from June/July, I am surprised how much further it has fallen, that is the power of momentum however, in markets. With minimal change in COT positioning on short side from big money and price approaching lows not seen in years, when the profit taking begins on these institutional levels, the market will react with bullish momentum back the other way, targeting all the remaining short position liquidity resting above.

Considerations: We are in some critical times across most of the global economy, and as such, it is a dangerous and turbulent time to be trading, so I anticipate to be in and out of these traders relatively quickly if the market allows.

#trading #analysis #audusd #forex #trader