Friday, 29 June 2012

AUD/USD 29 JUNE 2012


AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Price fell to the 786 yesterday and gave us a bullish cs formation, but outside our trading hours. Price has since rallied and taken out the B high confirming the uptrend on this timeframe.

FOR TODAY:
We have to wait for a new B high to form before we can do anything. So no trade setups.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:
No trade set-up, we don’t have an established B high in place as yet.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:
No trade set-up, we don’t have an established B high in place as yet.

If we don’t get the setup we are looking for then we don’t trade.

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