AUD/USD - follow me on twitter @fxdailyforecast
No trade setup on Aussie yesterday, price fell , but only to 1.0649, we were looking for a fall to 1.0630 followed by a bounce.
FOR TODAY:
Price is at the 86 of the AB downswing, we are in sell territory, we will sell a clear bearish cs formation from current levels or while inside the 1.0815 highs.
A break of 1.0815 negates this outlook and opens the upside, starting a reversal on this timeframe.
SHORT: Will be going short only IF:
We get a bearish cs formation from current levels or while inside the 1.0815 A high. 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 yesterday’s lows, or the BF786 followed by a bullish cs formation for a long entry. This entry will be a ST to the A high up at 1.0815. 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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