(LOSS) Another crack at AUD/USD Long (2.5:1 risk/reward)

Last play on this pair was speculative. This time I am looking onto the Commercial hedging reaching a critical turning point which will bring long speculative players into the game.

Also looking at a few matching fib zones and the 50ma to create a support bounce. Setting a stop at the .618 zone of the swing low-to-high and setting a target at the matching .618 and 1.618 extension zone.


UPDATE: Got Burned.