On the technical side, the AUDUSD is setting up for a nice continuation to the downside. Based on that keep your eyes on 5min-15h timeframe for your sell setups. There is good profit to be made (if this pair follows the script) and the trade has a nice reward – risk ratio. Any strong break to the upside will invalidate the setup.
The Risk: As trader, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with this trade and your stop loss is to big for your trading account simply just skip it and wait for another one .
For analysing the chart and predicting the upcoming wave I use upgraded version of Wave Analysis. This strategy is easy to understand and it is totally without fundamentals ( Don't read the fundamentals it will confuse you). However if you don't over risk and follow the plan than there is noting to lose in this online business.
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