AUDUSD UNDERSTANDING STRUCTURE & WHY YOU WAIT FOR CONFIRMATION

16 Sep 2016

Hello Traders, The AUDUSD is in a corrective structure which is still not complete. I am personally bias downside but if you watch any of my webinars you would know i like to have CONFIRMATION OF MY BIAS before i take a trade. I am short NZDUSD and stops are at BE. If you are in a short in AUDUSD and stops are in profit or BE keeping the trade is good idea but if you are not it's better to wait for a flag before you sell. This sharp move down could be a C wave in a 3 wave correction for more upside so unless it makes a flag or lower degree corrective structure to prove continuation selling here is very high risk.

Trade with care
Thank you for your support
See you my weekly outlook today.

19 Sep 2016

Nota

Hope this is a learning moment about how structure works !!

21 Sep 2016

Nota

As you have seen waiting for confirmation before you sell is a good thing !!

23 Sep 2016

Nota

Still looks like more upside