The 3 Little Pigs MTF Trading Strategy - AUDUSD Update 20-Apr-16

The 3 Little Pigs MTF Trading Strategy – Ranging Markets – A AUDUSD Update 20-Apr-16

An update on AUDUSD which I have been commenting on in the Live Weekly Workshops for the past 4 weeks now.

All commentary below assumes 1% risk per trade.

I mentioned in the first workshop 4 weeks ago how, with AUDUSD, we got a small run up and made about 2% (see the 1st trade on the chart below).

Each week since then I have been commenting that we have been treading water as we have been ranging whilst trying to break through that 0.7700 level (the 2016 highs) highlighted on the chart (Orange line). Each and every week, like a broken record, I have been saying we just have to keep taking all those Long signals – As we look to see a break through that resistance.

As you can see, we have seen a -1%, break-even, -1% and break-even series of trades – As that 0.7700 level has provided resistance no less than a half a dozen times.

Our latest trade, Entry 0.7592 with an Initial 40 PIP stop is now in profit.

Almost stopped out on the gap down on Monday (saved by 3 PIPs) – The current trailing stop is at 0.7694, just below that 0.7700 level. It means this trade is good for at least +2.5%.

The result of being patient and taking every trade in this ranging market, +2.5% with potentially more to come.

Is there more to come? Will that 0.7700 now provide support as AUDUSD moves North? Will we go on to make 20% here?

Who knows – All we know is we keep taking all those signals and that when the market does trend, as we know it will – We will be involved and we will make money.

For those with access…

Get more background on this and all other current 3 Little Pigs trades by watching all the recorded Live Weekly Workshops HERE.

All comments welcome.

The 3 Little Pigs MTF Trading Strategy - AUDUSD Update 20-Apr-16 Chart

DISCLAIMER & COPYRIGHT

This update is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.