STOP, ENTRY, TP - AUDCAD- LONG
FUTURE TRADE
Time remaining before entering this trade.
ENTRY CRITERIA
Stop - below the extreme low.
Entry - At previous double bottom.
TP - Below the 0.382 fib retrace, as we want to get out of the trade before everyone else, alternative daily 50 EMA.
MANAGEMENT
I need to see the trend change confirmed at the PICTURED level for the entry to be valid.
Watch the 4 hr and the 1 hr for the confirmation the pull back to the daily 0.382, alternatively the daily 50 EMA.
Wait for the lower time frames to give you the confirmed trend change this then leads into the daily moving higher.
PRO's
Way over extended daily at the pictured level if AUD keeps heading lower to entry point.
CON's
AUSSIE reserve predicting rate cuts later this year and actively announcing on media.
Time remaining before entering this trade.
ENTRY CRITERIA
Stop - below the extreme low.
Entry - At previous double bottom.
TP - Below the 0.382 fib retrace, as we want to get out of the trade before everyone else, alternative daily 50 EMA.
MANAGEMENT
I need to see the trend change confirmed at the PICTURED level for the entry to be valid.
Watch the 4 hr and the 1 hr for the confirmation the pull back to the daily 0.382, alternatively the daily 50 EMA.
Wait for the lower time frames to give you the confirmed trend change this then leads into the daily moving higher.
PRO's
Way over extended daily at the pictured level if AUD keeps heading lower to entry point.
CON's
AUSSIE reserve predicting rate cuts later this year and actively announcing on media.
Comment:
Price might be putting the brakes on now. Would need to see the trend change on the 1 hour. P rice giving higher highs and lows. 1hour currently we just have a trend continuation lower highs and lower lows still formed so far. The level i placed can be revised down. At minor support resistance on the daily.
Comment:
Actually on second thought i think its better to wait for the 0.91300 level. Its a weekly level and with the massive acceleration we have over all i think we get there.
Comment:
still holding for 0.91300 level
Comment:
Looking for a turn downwards in the week ahead
Order cancelled:
start again with this idea, dogs breakfast currently.