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AUDUSD Trade Example During Traders Webinar

Yesterday in the traders webinar, we tracked an excellent example of how the TradersHelpDesk indicators predicted where price would go on the AUDUSD. Here’s a recap of the trade.

Initial Trade Setup on AUDUSD

Since the traders webinar was scheduled to open at 8 am New York time, the trade was entered because the AUDUSD is a slower currency and, more likely than not, it would play out during the webinar.

Here’s how the charts looked on entry. Notice the 15 minute shows a double top formation (red rectangle). The big plus signs on the chart were highlighting the 5-minute resistance area, which also coincided with both the 15 and 60 resistance area and the Stochastics was overextended. The green dotted line was where we anticipated price to go on entry in this trade example. However, we also knew to watch the .6868 area as it had acted as support previously.

AUDUSD Initial Trade Setup Prior to the Traders Webinar
AUDUSD Initial Trade Setup Prior to the Traders Webinar

Additionally, the TradersHelpDesk RSI indicator was showing a potential upside rejection and the 6-hour chart (not shown) was indicating that price was testing the fast moving average but it was also acting as a resistance area. The combination of these factors lead to a probability that price would be moving down.

AUDUSD Trade Example During Traders Webinar

Trade Example on AUDUSD – Result

The red arrow marks the entry point on the 60-minute chart. The Multiple Time Frame Support and Resistance indicator shows that the 15-minute chart has formed a resistance area and price forms a bearish expectation bar at the lower high.

We anticipated that price would go down to the big blue plus sign (around .6861). The red square marks the risk potential and the green square marks the reward potential. The potential risk to reward on the trade was 1 : 2.

The was an excellent trade example of the timeframes aligning indicating a high probability trade setup.

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