DislikedLooking at ŁAUD trade again now. Another nice push down. Time to re-assess my stop levels. Looking at the 1H chart again and the pullback high on my chart above 5969. I'm of the opinion that this would be too close to PA, and a better bet would be placing a stop just above the RN of 1.6. Torn between not getting to close to the PA and being stopped out around news time, before any potential down moves, and too far away that if price goes up rather than down on the news, I let a decent chunk of profit go.
Nothing too obvious on $CAD at the moment...Ignored
For the AUD I have my stop at 1.6050 which is just above the latest resistance area on the 1H and the 150EMA. I am hoping that 1.6000 turns into support today and then I aim to move my stop just above that. My main target where I think price will stall majorly (if it gets that far) is 1.5700.
For the CAD I currently have my stop at 1.0436 which is above the low of the left eye on the daily, above the latest resistance level and 150EMA on the hourly. As for targets, I think we are at an important area but I would like to see us test and break the low of the 30th Sept bar (1.0349).
Price is retracing on both of these at the moment so I think we will see soon enough whether these levels are likely to hold, especially the CAD.