Tuesday, 7 August 2012

AUD/USD 7 AUGUST 2012


PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.


AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Price has taken out the B resistance high, our A is down at the same place virtually.

FOR TODAY:
We now need to wait for a retracement to the 618/786 of this swing for a long trade setup.

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

SHORT: Will be going short only IF:
With the break of the B high and the uptrend, we will not be looking for short trade setups today.

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 need to wait for a retracement to the 618/786 of this swing 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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