AUD/USD -
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No trade on Friday past since it was NFP.
FOR TODAY:
Price dramatically cleared the A support low on Friday
starting the reversal process on this time frame. We now need to wait for a
retracement to the 618/786 of this new AB swing before we can consider shorts.
Long trade setups will be considered if price rests the BF786 and gives us a
bullish cs formation.
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; this is very far away at present.
If we don’t get the setup we are looking for then we
don’t trade.
LONG: Will be
going long today only IF:
Probably no long trade setups since we need a swing high
(which we don’t have as at 06h13GMT) followed by a test of the BF786. Will wait
to see what happens during today’s sessions.
If we don’t get the setup we are looking for then we
don’t trade.
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