From ze BlogObserving the AUDUSD pair (five minute chart) in the...

From ze Blog

Observing the AUDUSD pair (five minute chart) in the hour before the RBA rates decision I was presented with a set of buy signals that I could not ignore.

These signals are marked with the ellipses on Price, and the specific "signals" of the MACD moving averages with distinct higher lows on these maverages with corresponding higher lows on Price.

Note these signals occurred Before the RBA announcement and I have observed this behaviour before.

So despite the potential high risk of Market Moving news causing massive fluctuations in price these signals I beleive mitigated the risk of sudden downside....

So long on the break of the 21MA, stop beneath the 21MA in case an earth shattering kaboom occurs, and whooshka! great upside on the actual announcement.

Once the market pulled its initial reaction I then made use of  fibonnacci retracements to observe the initial retrace, and added to the position on the double test of the .618 level, stop moved under this level after the retrace move, and profit target set as the 161.8 level.

Note these fibbonacci retrace techniques were introduced to me by FXStreet during their NFP webinars, including the fib profit targets.

All in all a sweet trade.

;)