UPDATE: The AUD/USD trade is developing. I’m planning my long trade for the end of the day!
The consolidation in the AUD/USD is coming to a point–literally.
With all of the downward trend behind it, many people are bias to the short side (and how could you blame them?!), but what about the reversal potential here?
I am quite ready for either side here. I don’t mind taking a somewhat counter-trend trade if there is a massive Risk/Reward in play and I certainly don’t mind jumping on the biggest trend of the year at a better price.
What do you think?
Which way do you anticipate the next 500+ pip move and are you willing to trade on either side here?
Winner’s Edge Trading, as seen on: