AUDUSD waiting for a spike.

I don't think this correction is done yet. If it is, it would qualify as a running flat which is a pretty rare formation. Current price action has basically gone sideways with no sellers to be found "currently". If the pair is to head lower, Id put my money in an area with a higher probability to get a reaction. The last area that showed volume I marked as a swing point. I have a limit sitting right at 0.7599. If the reaction is only SO SO ill be dropping that stop breakeven pretty quick.. If it shows a good reaction ill be riding the pair lower..

Happy Trading.

Kommentera:

As expected we got a spike into the upper swing level. Why trading without confirmation is the best entry. Drawdown lasted a few short minutes.