Trading with the Bullish Trend

  


Since March of 2020 AUDUSD has been been moving and trending higher. A bullish trend is clearly visible and we at EWF always encourage our members to trade with the trend and not against it.

On December 28 2020 we advised traders, in our members area, that AUDUSD was still in a bullish cycle and that another rally higher was developing and in the works.

AUDUSD 1 Hour Chart New York Update 12.28.2020

AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX

I also posted the BUY/LONG trade setups entry on social media @AidanFX  “AUDUSD BUY 0.7554 SL 0.7514 TP 0.7594” on December 22/2020 and “AUDUSD another push higher towards 0.7636 area as long price stays above 0.7556. LONGSIDE.” on December 28/2020

AUDUSD December 22 and 28/2020 Social Media Post @AidanFX

AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX

BUY/LONG trade first entry AUDUSD moves higher and on December 23 2020 price hits the 1:1 RR Target at 0.7594 from 0.7554 for +40 pips. On December 28 added BUY/LONG second entry and on December 29 2020 price hits the the second entry 1:1 RR target (black) at 0.7636  from 0.7596 entry for +40 pips while still holding first entry. AUDUSD continues moving higher and on December 30 2020 the pair hits the 1:3 RR Target at 0.7674 from 0.7554 (1st entry) for +120 pips. If you were a EWF member or followed me on social media @AidanFX you too could have caught the AUDUSD move higher. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100% is that we are RIGHT more than we are WRONG.

AUDUSD 1 Hour Chart  December 23, 28, 29 and 30/2020

AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX AUDUSD, trading, forex, elliottwave, AidanFX, @AidanFX

Learn to ride your winners and close your losers early to be more profitable.

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade.  Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX

At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different time frames and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos  and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

Try Elliottwave-Forecast for 14 days FREE !!!   Just click here –> 14 day FREE trial

Back



Read more here