AUDUSD Aug 9, 2016

As AUDUSD didn’t go with Gartley pattern, we need another strategy.

From the current trend, AUDUSD will go up for while, but risk to award ratio will be low if we want to long AUDUSD at current position.

From technical analysis, AUDUSD might go with AB=CD pattern and reach ~0.7776. We may consider to short AUDUSD at the position with small trades. Or from reverse 1.618 Fib ration, it might touch the previous highest point 0.7834. We might short AUDUSD at that position with 20pip stop loss.

Trade with stop loss!

AUDUSD_AUG9_2016

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