Wait for potential pullback after tonight's release of the New Zealand CPI and Australian employment data or buy at the current market price. Stop loss should be just below last low (and the trend line).
Note
If you bought this pair yesterday or overnight on pullback (as predicted), you can set stop loss at entry point now to protect your equity. Good luck.Note
We're in good profit now but the price is approaching two important levels: yearly pivot and former support/resistance level. You can close part of your positions at those levels, let the remaining ones run and buy again later on pullback. It's your choice. Good luck.Note
Yearly pivot point has been touched. You can set trailing SL to 1.08200 now. Otherwise you should close at least part of your positions before RBA meeting minutes and speeches planned for tomorrow early morning GMT.Trade closed manually
After such a impulsive move and completion of AB=CD structure (see chart below) I'm expecting a significant pullback. I'm taking profit and will not update this trade anymore. In case of another good opportunity I'll publish a new idea. Have a good weekend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.