UPDATE #2: NFP caused prices to dip a little bit more into the PRZ but did not take out this trade. Now looking to reach Target #1 today. Will update again if/when it does.
UPDATE #3: This almost reached the target 1 point before plunging down on bad Aussie news release. It has broken the PRZ and closed below the original X point. Though just barely, still it did and that invalidates this . Oh, well. It happens!
See my "Related Ideas".
***NOTE*** AUDUSD has high inverse correlation with USDCAD . USDCAD right now is in EXTREME oversold condition and I expect some kind of reversal (be it temporary or long-term) soon.
Year-to-date Profits: +5,794 pips.
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