AUD/USD -
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No trade setup on Aussie yesterday.
FOR TODAY:
Price fell overnight and we are at the B low on this
pair. We will look for a bullish cs formation from current levels for a long
trade setup.
Else if price breaks the 10020/10000 level on a sustained
basis then we will have a new AB swing in the making.
Shorts are only considered mush higher up at the 618/786.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: Will be
going short only IF:
Price retraces to the 618/786 of this AB swing and gives
us a bearish cs formation. Limits defined later, stops are 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:
Price is at the B low, we will look to buy after a clear
bullish cs formation telling us that this level is holding. Stops are placed 10
pips below the cs formation, max 1% risk, limits here will be at 1.0166
If we don’t get the setup we are looking for then we
don’t trade.
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