AUD/USD -
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The short trade setup yesterday realized 50 pips profit.
Price fell further to 9850 during the Asian session.
FOR TODAY:
The bounce out of 9850 qualifies for a DD entry setup for
a long trade, wait for a test followed by another bullish cs formations.
Shorts are considered after a rally and a clear bearish cs
formation since we have a DABF trading day.
If we don’t get
the setup we are looking for then we don’t trade.
SHORT: Will be
going short only IF:
Today is a DABF trading day where we are looking for
price to extend the fall, we will look for rallies followed by bearish cs
formations for short entries. Trade this for 60-70 pips. Stop will be 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:
We will look for a test of the overnight lows followed by
a clear bullish cs formation. This qualifies as a DD entry and should be good
for 100 pip rally. Place stops 10 pips below the cs formation, max 1% risk.
If we don’t get the setup we are looking for then we
don’t trade.
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