AUDUSD two trade set ups
Updated
AUDUSD is still a bit undecided. My bias is long assuming break upward of current futures weekly trend. Just because bias is long doesn't mean we know the future. There are two trade setups. Wait for price to reveal.
the trades are:
Long; watch for bounce of orange trend line. Requirement; no break down and 240 candle close with good bounce of trend line, long with target at upper red trend line.
Short; Should break down occur, wait for confirmation with 240 candle close below break point and short to lower red trend. Expect three wave move with break down.
Trade updates as needed.
Wait for confirmation. If you are unsure how to trade bounces or breaks, send me a message.
Trade wisely,
the trades are:
Long; watch for bounce of orange trend line. Requirement; no break down and 240 candle close with good bounce of trend line, long with target at upper red trend line.
Short; Should break down occur, wait for confirmation with 240 candle close below break point and short to lower red trend. Expect three wave move with break down.
Trade updates as needed.
Wait for confirmation. If you are unsure how to trade bounces or breaks, send me a message.
Trade wisely,
Note
Price did not come back as anticipated, there has been a short term bounce off of purple trend. Futures suggest short term turn in AUD so price looks to retreat back to orange trend at this time. A short term bounce trade short may be a good idea. Target area would again be orange trend.If you are unfamiliar with this type of trade, stay flat. If you have questions or comments, please let me know.
Trade wisely.
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