Aussie Fell Multi-Week Low
Recently, the AUD/USD has fallen to multi-week low. Various market commentaries have confirmed its bearish technical outlook. In fact, we have shared and preempted our traders regarding this impending bearish outlook in our close trading group on 22nd September 2017.
Market's Reaction in Absence of Data
An observation which most traders should realise is that the markets have reacted strongly without release of any strong and catalytic fundamental market data. Yet, currencies like AUD/USD had fallen significantly. One of the possible reasons is that Trump's administration on the Tax Reforms has caused dollar to strengthen, resulting in a relative depreciation on the Aussie dollar pair.
The stimulative tax reform plan has proven to support a stronger USD outlook in the market. This tax reform will achieve a few objectives;
- Cut taxes ‘tremendously’ for the middle class
- Lower corporate taxes to bring back trillions of dollars from overseas
All these have provided strength and support to the greenback.
Profiting Silently From The Market
Apart from hinting our trade group, we have also managed to capture on the trading opportunity to profit from this movement. Based on the above H1 chart of AUD/USD, the bearish downward moving averages have given us clue of the dominant bearish trend established on AUD/USD.
One of the way to seek entry is to adopt our developed proprietary swing trade “REP” income system setup recommended by the trading team. This system allows traders to identify high probability and strong retracement zones for entry. Accurate retracement zones were first identified using the system, followed by positioning the correct stop-loss orders (shown in red). This system allows us to identify strategic zones where market is likely to stop its retracement while giving us higher confidence to pick these zones for entry to re-join and profit from the dominant market trend.
With the use of such simple, clean and proven system, we are able to pick up professionally traded areas to profit from the market. This trade result has yield a 3:1 risk to reward profits in less than 2 days, giving a net profit of $571 with minimal effort. We have been advocating and sharing consistently of our own system and trading methods. We strongly encourage you to adopt our trading concepts to improve your trading.
If you are not seeing the results you want, you just have to seek an alternative. Let us help you with you trading. Safe trade to all.