Again, on the daily time frame we see a nice wedge forming here. It appears to me a bit to early for the breakout which is making me lean toward a long position. In addition the 200sma is acting as support to PA. Seems to be a high probability long play here.
As always, risk management is crucial!!!
Trade closed: stop reached:
We got hit with some news that did not react well with the AUD. That's okay, this is why we only risk 2% per trade.