Tuesday, 31 July 2012

AUD/USD 31 JULY 2012


AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Price broke the B high and we still waiting for a new B for the AB swing.

FOR TODAY:
Once we have a B high we will need to wait for a retracement down to the 618/786 of this swing for a long entry.

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

SHORT: Will be going short only IF:
No shorts are considered during the retracement.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:
We are looking for a B high, then a retracement down to the 618/786 of this swing for a long entry.

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

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