AUD/USD
Price did test the B low yesterday but it was outside our trading hours, price bounced strongly off the B low.
FOR TODAY:
With the bounce off the B low last night we are expecting price to rally to the 786, maybe even the A high up at 823 over coming sessions. We are looking to buy dips after bullish cs formations.
SHORT: Will be going short only IF:
We need a test of the 777 highs and a bearish cs formation for a short trade. Stops 14 pips above the cs formation, max 1.5% risk, limits will be at the BF786.
If we don’t get the setup we are looking for then we don’t trade.
LONG: Will be going long today only IF:
With today being a DABF786 trading day, we are looking to buy dips after bullish cs formations with price heading for 784 initially, then onto 823. Place stops 10 pips below the low of the cs formation, max 1.5% risk, limits set at 813.
If we don’t get the setup we are looking for then we don’t trade.
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