Looking to get back in for another position or two after this pullback. The current order we have in is risk free, and it could be hopeful that a large drop all the way down to the fib ext projection could happen. If it doesn't we will still secure some good pips regardless.
THINGS TO WATCH RIGHT NOW. Sell limit placed around the 50% retracement, also a projection area of pullback on the fib ext we have drawn on the H1. High level of interaction around that area if you look across the chart. We will watch for interaction around that. No real fundamental news coming out until the end of the week, so this pair could be CAD driven as we move through. Lots of NZD news this week, which if positive can send the AUD pair into a tailspin regardless. Only looking short for the foreseeable future
THINGS TO WATCH RIGHT NOW. Sell limit placed around the 50% retracement, also a projection area of pullback on the fib ext we have drawn on the H1. High level of interaction around that area if you look across the chart. We will watch for interaction around that. No real fundamental news coming out until the end of the week, so this pair could be CAD driven as we move through. Lots of NZD news this week, which if positive can send the AUD pair into a tailspin regardless. Only looking short for the foreseeable future
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.