AUD/USD -
follow me on twitter @fxdailyforecast and stocktwits.com/fxg
We had a short trade setup which I exited prematurely and
missed the fall.
FOR TODAY:
Price fell to take out the B low giving us a new AB swing
in play. We can only sell up at the 618/786 of this swing.
Longs are not considered today since we don’t have a setup
for a BF trade.
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 setup we are looking for then we don’t
trade.
LONG: Will be
going long today only IF:
We need an established B Swing low followed by a rally
with a swing high and then a test; we don’t have any of those criteria present
on this chart so we will not be going long on this pair for today’s session. If
this change I will post it on stocktwits.
If we don’t get the setup we are looking for then we
don’t trade.
No comments:
Post a Comment