AUD/USD -
follow me on twitter @fxdailyforecast and stocktwits.com/fxg
No trade setup yesterday on Aussie yesterday. Price rallied
past the 618.
FOR TODAY:
When price rallies like it did yesterday and runs past
the 618 then I prefer the 786 as the next selling area. Will wait for price to
test the 786 and then give us a bearish cs formation for a short trade set-up, unless we get clear failure at the highs again.
Long trades will be considered on dips followed by
bullish cs formations.
SHORT: Will be
going short only IF:
We need a retracement to the 786 or higher followed by a clear
bearish cs formation. Limits for this entry will be at the BF786 over coming sessions. 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 a dip followed by a clear bullish cs formation. This might be a sign that the bulls are targeting the A high. Limits
on this trade will be defined at time of entry. 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.
No comments:
Post a Comment