AUD/USD - follow me on twitter @fxdailyforecast
No trade setup on Friday, price did fall after a test of the 1.0754 level, but that was rather late Friday afternoon.
FOR TODAY:
Today we will look for either a DA618 trading day, or a bounced at 1.0630 for a long trade setup.
SHORT: Will be going short only IF:
We get a rally and a bearish cs formation for a short trade setup, since today might be a DA618 trading day where price resumes the fall. 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. This entry will be a ST to the 786 higher up. Stop 10 pips below the low of the cs formation.
If we don’t get the setup we are looking for then we don’t trade.
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