What I see setting up for entry
Here is a trade set-up I
am watching.
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Those who have been viewing these posts for
a while know that the present conditions in the FX market have provided very few
24-Hour Target set-ups in recent weeks. The few that have emerged have not
played out terribly well.
We continue to see evidence of this today as well. The result (until conditions
change) will be a more discretionary trade selection as it relates to trades
that fit the 24-Hour Target parameters.
Continue to look for 24-Hour Target trades on Monday’s & Wednesday’s (our
regular schedule), as conditions can change, but for today, no 24-Hour Target
Trades.
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We do see a possible set-up though in the
Aussie dollar (AUD/USD). This is a counter-trend trade however, but one that
appears to have good risk/reward. This trade could take a few days to play out.
As always, feel free to send
me your comments and questions.