This is a followup to my last plan looking for bounce zones.
Since then, the moves have painted a slightly different picture in terms support zones and EW.
I think we might have one more small leg down coming (wave 5) to the next support zone below (.7238).
It is also possible that wave B completed at the first support zone (.7250) and could turn up.
If small lot size, I might enter a long now with a stop below the green zone below.
But ideally, I would wait for one more dip to get the best price possible with smallest Stop Loss.
But in any case, I will looking for sings of reversal on smaller tf (candlestick patterns, double bottom, etc).
Background:
I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opportunities such as this recent plan
And my last solid pips of profit came from two way action per this plan
Which brings me to my current plan to look for a long scalp, and then short it hard
Since then, the moves have painted a slightly different picture in terms support zones and EW.
I think we might have one more small leg down coming (wave 5) to the next support zone below (.7238).
It is also possible that wave B completed at the first support zone (.7250) and could turn up.
If small lot size, I might enter a long now with a stop below the green zone below.
But ideally, I would wait for one more dip to get the best price possible with smallest Stop Loss.
But in any case, I will looking for sings of reversal on smaller tf (candlestick patterns, double bottom, etc).
Background:
I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opportunities such as this recent plan
And my last solid pips of profit came from two way action per this plan
Which brings me to my current plan to look for a long scalp, and then short it hard
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
