AUD/USD - follow me on twitter @fxdailyforecast
Price gave us the bullish cs formation yesterday after hitting the BF786, we are still in that trade.
FOR TODAY:
We are still in the bearish AB swing, price is consolidating in this range over the past few sessions. We need a break of either the 1.0560 high, or the 1.0473 lows. A break of the 1.0473 low will give us a new AB swing with 1.0560 as the high.
SHORT: Will be going short only IF:
We get a rally to the 1.0560 highs and get a bearish cs formation, this will qualify as a DD entry and should be good for 100 pips, else higher up at the 618/786 followed by a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised upon entry.
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 will look to buy bullish cs formations after a test of the 1.0473 lows. Stops will be 10 pips below the low of the cs formation, limits defined at time of entry.
If we don’t get the setup we are looking for then we don’t trade.
No comments:
Post a Comment