short term long to short

26 Feb 2021

US strength could be the LPSY of the AUD - this means we could get a high to the BC, some rangebound moves and then the drop to around 74000 level.

in terms of Elliott, we are either in the 3-4 down or if we get a new high here it will be a fake-out and then down.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

26 Feb 2021

Catatan

The revised level suggests the pullback only being up at 7891 potentially - if it is to fit with the schematic and overall formation.