AUDUSD Daily Outlook for 12th December 2013 (Thursday)
Daily Chart
30min Chart
- Yesterday my trade outlook didn't work as i was thinking it will continue to trend up
- The reason I was wrong was I failed to identify a Bearish Pattern setup due to the False pin from NFP last Friday.
- The pattern worked very well (easier to analyse the past , but cannot ignore the fact that these pattern works well)
- We are trading below the main support of 0.9060, again (third time this month), therefore I believe prices are headed south towards perhaps to 0.86645 which is the FE127.20 in the coming month or two.
Outlook Trade opportunity
Shorts only, and only if prices go up to retest which now is resistance @ between 0.90550 - 0.9060#1 - Sell order @ 0.90550-0.9060 stops 20pips away, and Tp at least 20pips to make it just a 1:1 return.
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