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now busting through the 61.8 retracement, i'm shorting once confirmation of the daily of an open below the retracement level.
my trade will be at market with SL at .8600 and TP at .7950 with a trailing stop of 150 pips once passed .8300
It will be interesting to see if we will achieve a 100% retracement, which looks inevitable considering the RBA's looking to hit the forex market with another .25% rates cut in November, however, I think the market is expecting this and the current price has been impacted by this anticipation.
- will we hit 100%, anyone going short, what trades are others making...always love a second opinion!
...always dyor, my opinions are just that!
