AUD/USD -
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No trade setup on Aussie on Friday, price gap opened by
some 100 pips last night – hence the post to be flat into the weekend.
FOR TODAY:
Price came 1 pip shy of hitting the 618 during the Asian
session. We can only sell a test of the high, or buy down at the BF786.
SHORT: Will be
going short only IF:
We will sell a test of the Asian high followed by a bearish
cs formation. This 618 entry will be good for 60-70 pips. Stop 13 pips above
the high of 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 to the BF786 followed by a bullish cs
formation for a long trade setup. Place
stop 10 pips below the low of the cs formation, max 1% risk. Limits on this trade
will be define at time of entry.
If we don’t get the setup we are looking for then we
don’t trade.
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