AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
No trade setup yesterday, price never tested the BF for a
long entry. Price has since rallied and we are around the 618 area.
FOR TODAY:
We can sell from current levels or higher up at the 786 after
confirming bearish cs formations.
Long trades are considered after a test of the BF786
followed by bullish cs formations.
If we don’t get
the setup we are looking for then we don’t trade.
SHORT: Will be
going short only IF:
Price has already rallied past the 618, if 9800 doesn’t hold
then we look for 9829 to offer resistance. We will short here after a clear bearish
cs formation. Stops are placed 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 price to test the BF786 – far away at present - and
then give us a bullish cs formation for a long trade setup. Place stop 10 pips
below 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.
No comments:
Post a Comment