KVE
Long

AUD/USD: Long if we break out of the flag!

FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
94 0 5
Possible flag, if it breaks, could send the AUD further upwards! Or down, we can never know until we see it happening...

I'll wait for a breakout and consolidation above the upper trendline to go long. If we break down, I might short it, the target could be the previously broken trendline below.

Targets:
- Zone at the 50% retracement of the last big move down and the 161.8 projection of wave 1 from the low at 2 (depending on where it ends).
- Leaving a considerable part open for targets higher up (zoom out in the chart or check higher timeframe ideas).

SL:
Below the lowest low of the retracement.
Trade active: Long from 0.7338, SL at 0.7290, TP to be decided...
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