AUD/USD -
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The A high has been broken indicating a bullish reversal
on this time frame. The target of 1.0126 has been reached overnight.
FOR TODAY:
Buying after dips followed by bullish cs formations will
be the proffered strategy on Aussie. We look for the bulls to now target the
1.0168, maybe even 1.0223.
Shorts will not be considered until we get higher up to
the 786 area.
If we don’t get
the setup we are looking for then we don’t trade.
SHORT: Will be
going short only IF:
Will not be considering short trade setups at present. The
bullish bounce out of 1.0011 indicates a move higher. Bearish moves should be
used to add to long positions.
If we don’t get the setup we are looking for then we
don’t trade.
LONG: Will be
going long today only IF:
Buying after dips followed by a clear bullish cs
formation will be the preferred strategy today since we are looking for price
to head higher. 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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