AUD/USD -
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No trade setup on Aussie yesterday. Price fell then
consolidated and it seems we have a new swing B low at 9944.
FOR TODAY:
We will need to wait for a retracement to the 618/786
followed by a bearish cs formation for a short trade set-up.
Long trades are considered on a test of the BF786.
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. Stops are 13 pips above the cs formation, max 1%
risk. Limits defined at time of entry.
If we don’t get the set-up we are looking for then we
don’t trade.
LONG: Will be
going long today only IF:
Price tests the BF786 followed by a bullish cs formation,
Stops are 10 pips below the low of the cs formation, max 1%, and limits will be
60-70 pips.
If we don’t get the setup we are looking for then we
don’t trade.
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