AUDUSD UNDERSTANDING STRUCTURE & WHY YOU WAIT FOR CONFIRMATION

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
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See you my weekly outlook today.

Kommentera:

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

Kommentera:

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

Kommentera:

Still looks like more upside