AUD/USD - follow me on twitter @fxdailyforecast
Price gave us the bearish cs formation we were looking for yesterday, we entered short and limited out for 37 pips.
FOR TODAY:
Today is a DA86 trading day where we are looking for continuation of the fall, down to 1.0678. Sell rallies after bearish cs formations.
Else a sustained break of the 1.0823 highs will start the reversal process on this timeframe.
SHORT: Will be going short only IF:
We need a clear bearish cs formation for a short trade. Stops 14 pips above the cs formation, max 1.5% risk, limits will be at 1.0678.
If we don’t get the setup we are looking for then we don’t trade.
LONG: Will be going long today only IF:
Price must reach the BF786 and then give us a bullish cs formation. Place stops 10 pips below the low of the cs formation, max 1.5% risk, limits set at 1.0813, this will be a ST.
If we don’t get the setup we are looking for then we don’t trade.
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