On our market watch today is AUD/USD. The pair has formed a bearish flag, which is broken, and now we have high probability of a bearish continuation. ABC extension indicate that target to watch after this bearish break is 0.7200 with possible extension further downside.
Recommended trade size should be adjusted to your risk profile and money management.
Preferred trading strategy pending sell stop at 0.7360 or a pending limit sell order at 0.7400.
Happy trading! (click on the chart to enlarge it)
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free. If you want to learn all about it and become a professional Trader, sign up now.
We cover all Majors, Crosses, Indices and Commodities. Join us and you will get access to Trade alerts with exact SL and TP levels, real time on email , viber, twitter private feed, NY session analysis of all major asset classes, Live trading sessions every day moderated by our expert analyst @Aleksfx, Video analysis, Intraday market levels, Live chat support, Educational webinars. You can also read other articles at our Blog and check Chart of The Day