AUD/USD - follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
We are still in an uptrend on this pair. Price retraced
to the 50 of this AB swing thus far, rallied yesterday but failed to reach the
BF786, we have since fallen during the Asian session.
FOR TODAY:
We need price at the 618/786 followed by a bullish cs
formation for a long trade setup.
Shorts are considered after a BF786 test with a 618/786
prior bounce.
A sustained break of 9995 will start the reversal process
on this timeframe. A violation of 1.0328 opens the upside on this pair.
If we don’t get
the setup we are looking for then we don’t trade.
SHORT: Will be
going short only IF:
Shorts are considered after a BF786 test with a 618/786
prior bounce.
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 retrace down to the 618/786 of this AB
swing followed by a bullish cs formation for a long trade setup.
If we don’t get the setup we are looking for then we
don’t trade.
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