Sorry my friend, but an awful idea. If anything, it should be for shorting only. Aussie broke very critical levels in the last month. DO NOT GO LONG. My suggestion if you'd like to go long is around 71. On another note 5 minute charts are extremely challenging to predict and impossible to predict as far out as you have.
Lanmar
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I noticed your other calls and will attest that they're quality. Good job
moesalama
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hey,
well this scenario is all built on 1 thing only.
0.7900 must be tested again to create a 5 wave structured correction, and then the huge fall will take place.
other wise the audusd is down.
thanks
Lanmar
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That would really surprise me. Looks to me that it's headed to 72.50 - 73 very quickly with little retracement. 67's long term. I hope we see 79, I missed this trade.
moesalama
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well based on the current movement, and the high made @ 0.7620 it makes more sense for it to continue moving down..
but again i will enter any long positions except when a clear 5 is made.