AUD/USD - follow me on twitter @fxdailyforecast
No trade setup on Aussie yesterday, but the failure at 1.0600 did push price deeper into the AB swing.
FOR TODAY:
We are now in sell territory have advanced past the 618. When we have such a setup where price pushed through the 618, then I prefer to extend to the 786.
SHORT: Will be going short only IF:
We need a clear bearish cs formation after price retraces to the 786 of this swing for a short trade. Stops 14 pips above the cs formation, max 1.5% risk, limits for this entry will be at the BF786, being a ST.
If we don’t get the setup we are looking for then we don’t trade.
LONG: Will be going long today only IF:
We need price down at the BF786 and a bullish sc formation for a long entry. Far away at present. So no long trade set-up.
If we don’t get the setup we are looking for then we don’t trade.
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