The main trend (daily chart) remains bullish, but on intraday time frame, the pair could develop a corrective structure (abc or abcde). We will look for a SELL OPPORTUNITY on the second bearish leg (b). The reason is very simple, the trend is bullish, and we need some confirmation (for example, a first bearish leg) about the potential consolidation movement, before take short position, we'll see.
Thank you for your support and trade with care!
DAILY CHARTS
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Wave (A) in play....
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Wave (B) in play....
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Reserve Bank of Australia's monetary policy announcement is expected... caution!
@SignalSwiss is it possible to take a long at a for example or is it to risky?
zemelax
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xm, the price dont touch '"B".
vaithi2praba
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thank you sir in this one difficulty i unable to read entry stop loss and take profit pls post that in writing also thank you
nuttydave
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Making a believer out of me! Will be sure to follow your trade ideas closely in the future.
TheAnonymousBanker
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@davidmassey, If chart below (abc strategy chart) reaches 100 ILIKE, we will post Part 2, and you will can find a simple answer there. This trade is very simple!
have a nice weekend!
jojofang0901
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Nice trade setup, thank you for sharing your view on this pair. I have same idea as well.