Tuesday, 5 March 2013

AUD/USD 5 MARCH 2013



Price is currently at the 786 of this swing, we are looking for a bearish cs formation from current levels for a short entry. If we don’t get a short trade setup and price rallies to take out the 1.0290 level then we are looking at a reversal on this pair.

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Will be going long if:
No immediate long trade setups since we have no criteria in place. Stand aside.

Will be going short if:
Price is at the 786, we need a bearish cs formation for a short setup, else if price continues up and takes out 1.0290, this view will be negated, with a reversal setting up.

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