AudUsd: We look to sell the price based on wolf wave bearish pattern as P5 0,7062 can be challanged but not break, the price went all the way to 0,7122 (60pips over) yet this cant be count as a break for now on a daily basis and the fact that the price could start falling down is still there. The market did expect that RBA shall keep the rate on next meeting in feb, now pricing 25 rate hike, is 60pips enough? One good referens is the EurAud as if the price show some bullish signal can help us determine shorting AudUsd.
This business needs a lot of patience and capital management in terms of lot sizes placed on a given trade. The price just swings. If it goes against you, you need patient to wait till it comes profitable