Hey Guys,  I've been away for a little while, but am back again.  Im really liking the AUDUSD pair, its the honey badger of pairs in my opinion.  

Anyway,  this AUDUSD short set up seems quite nice.  We have a nice bearish divergence with my bbsqueeze and the pair nearing the upper part of a nicely formed channel.  Because of where the price is now at the upper channel, it provides really great value for a short.  What would be optimal is to short the pair at the 1.0535 to 1.0540 area.  

In this second graph, we have a nice overbought stoch with the stochastics crossing over the 8 MA, suggesting its time to short.

Before the reversal, we usually see a final Bull thrust before the bears take over.  If patient, we could get a really great value short.  If anything, a good scalping opp at the 1.0540 area.

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Comment by James Burke on August 1, 2012 at 10:59am

I think your zone is around 535 to 538 area.  But expect it to trade in a nice tight range today and tomorrow.  Im looking to scalp at the upper bounds and am not ballsy enough to do it from the lower range. 

Comment by James Burke on August 2, 2012 at 3:09pm

What Ive been doing so far is playing the range, scalping the from the upper bounds.  However, everything indicates this bad boy is going to break to the downside.  Particularly, because we saw the earlier fake out from Draghis comments.  But as always, the market anticipated these comments and the comments were merely lagging info.


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