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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026

Tuesday, April 29, 2014

AUD/USD - Bought the Dip

AUD/USD found support in the .92300 area just below the first fib confluence for a 4th wave. It put in a nice bullish candle bouncing from the area where wave 4 = .382* wave 3 and wave 4 = wave 2. I have placed my stop-loss just below that candle and plan to add to this position on any pullbacks.

If I am stopped out on this trade I will be watching the .91900 area where wave 4 would equal .50*3 and 127.2*2.

The take profit on this trade is up in the .95000-.96000 range.

1 comment:

  1. I'm going to tag along with you on this one. I'm in long and It looks good.