AUDUSD moving nicely up now

AUD/USD pair was on my monitoring list. Employment data caused sharp drop of AUD/USD this morning only to trigger my buy signal for AUD/USD pair. 3 hours after releasing of unemployment and employment data for AUD, on 1 hour chart price came to the dynamic support area which was the 38.2% fib are of the latest low to high. Diagonal trend line also met the same area. Thus a nice confluence was there.

As price crossed the recent resistance & support line, I entered long at 1.05218 with 25 pips s/l. 3 hours after entering long I exited my 50% position at 34 pips. Rest of the position is at B/E.

Sam, in his article often used to tell that news event doesn't interrupt technical analysis. It just augment the speed of price movement. Sometimes may be opposite direction of a trend but ultimately it follows the trend. I started to see this.

AUD/USD pair is now has 60 pips unrealized gain. I have another open trade at AUD/CAD. Price is now forming double top. I'm now at B/E there with 50% of my initial position. Now I'll watching this pair as my target of T/P is way beyond this developing double top. I might get out of this trade as price is making this double top at a level which was last visited in February 2012. I'll get into the trade again after clearing this level.