AUD/USD 1 AUGUST 2012

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We now have a B swing high for the AB swing.

FOR TODAY:

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 setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking 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.