AUDUSD and EURAUD made sudden retracements today after massive drops owing to the employment change. On this one hour chart I have drawn some hidden trendlines that meet up at a point to form confluence with the 161.8 fibonnaci extension. This is a good point for the retracement to stop and the current downtrend to continue in its direction. SImple but effective trade strategy. I still retain my target in my former short post on EURAUD whic is about 200+ pips in the money.
Entry : 1.485 and1.486
SL should be set at the Last major H. high.
TP refer to the last post in the link.
Entry : 1.485 and1.486
SL should be set at the Last major H. high.
TP refer to the last post in the link.
