FOREXCOM:AUDCHF   Australian Dollar / Swiss Franc
A simple clean setup for a nice long entry at 0.7408. I'm expecting to see serious buying coming at this level and wait it out till next week - some downside expected but this could be limited. When buying sets in, expect to see 0.770. On the side note, I'm glad for those who were long on EUR since early last week like me and my trade calls on EURJPY and EURCAD were well received. Thanks.

Trade outlook is 10-30 days
Ramesh is the author of his new book "Trade Forex with Confidence" to show readers how to build a profitable trading system using the 10/20/30 Rule.
May 06
Comment: The pullback is worrisome but the wave structure is still very much intact. No sweat and will keep my long position on.
May 23
Comment: 0.732 has to be taken out soon to stay in this position
Jun 06
Trade closed: stop reached: I acknowledge this as a bad call and from this experience have updated the strategy to insure the entries are not triggered too early.

Watch for the break above the 0.732 to signal the direction has changed.


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