AUD/USD 7 JUNE 2012

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There was a short trade which we exited for 12 pips loss. Price went on to take out the A high doing a reversal on this timeframe.

FOR TODAY:

We now need to wait for an established B swing high to form, until then we stand aside.

 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 setups, waiting for a B swing high to form.

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 setups, waiting for a B swing high to form.

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