AUD/USD -
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No trade setup on Aussie yesterday, we were
waiting for a swing low to form.
FOR TODAY:
We seem to have a swing low in place at 1.0335. We now
need price to retrace to the 618/786 for a short entry on this pair. Else we
are only interested in buying if we test the BF786 followed by a bullish cs
formation.
SHORT: Will be
going short only IF:
We need a retracement to the 618/786 followed by a
bearish cs formation at either of those levels. Limits will be defined at time
of entry. Stops will be 13 pips above the cs formation, max 1% risk.
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 to test the BF786 followed by a clear bullish
cs formation. Limits on this entry will be 70 pips since it’s a shallow bounce.
Place stops 10 pips below the low of the cs formation, max 1% risk.
If we don’t get the setup we are looking for then we
don’t trade.
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