A trade idea in the Aussie $

All right, folks, there we look at the Aussie dollar the Australian dollar futures. Six a will trade the March contract. So it’s gonna be six h two, two for the March 2022 contract. So what I do is a complete analysis on any market I’m about to trade now involves doing a top down analysis on the technicals looking at price action structure it then if I’m looking to do a potential swing trade, I will incorporate seasonality No, of course not incorporate seasonality on the lower timeframes on intraday, but I will certainly incorporate seasonality on the swing trades to see if I am trading in line with seasonal bias. So right here, you see we have a potential bearish setup on the US dollar starts on around Feb. 11. And on around Feb 22 80% win rate over five years average profits been about $618. That’s roughly 61 ticks is each tick is $10 a contract. So what we’re looking at here on the weekly and the daily, you see that we have an area of structure right here and area Structure. Why because this is the area that where we last held broke support and we flushed down pretty hard. And now we’re bouncing back up to that untested area of structure here on the daily chart. So all so what you’ll see too, is that coincides nicely with the 618 retracement here from this swing low to this swing high is a 618 retracement right here at 7185. Now what I like to do next is come down to the lower timeframe such as the hourly and see if we’re getting any sell signal. So I’m gonna draw this little trendline here you can see we are indeed starting to get bearish sell signals right here into this area of structure based off of the higher Time Frame. These are the exactly the kinds of things that we want to see. So we have bearish seasonality, we’re trading into longer term structure, ie the weekly we’re also into the 618 retracement or what I call the golden zone. And we’re getting our bearish divergence candles. So I’m looking to take a nibble on the Ozzie dollar to the short side. And what I will likely do is look to sell the market sell the market here once we take out probably this hourly low down here, this hourly low at around 7170 7175 8170. And then what I’ll look to do is see if I could sell a covered put option against it. So right now 7175 are going for 18 by 22. So that means 18 People are bidding 18 The offer is 22. So we’ll call it 20. That’s 26. So it’s $200. So if I sell the Aussie dollar and sell a 7175 cover put against it, I’ll keep that $200 If we close below 7175 at Friday’s expiration, that is one way to trade it. You can also just look to trade the outright trade at 7175. To look for a bigger target down here. First one would be 7160 and then down here at 7140. And you could also trade the micro Ozzy future. So we’re gonna keep an eye on this one here. I’m gonna set an alert at 7175 and see if that price triggers and we’ll see how this guy plays out. Now I’m gonna be doing a free webinar on Friday, February 11 at 11am Eastern I’m going to actually be talking about these exact same concepts and setups apply and how we apply them on all markets Stocks, Futures, currencies, ETFs options Kryptos registration is free. I’m gonna go ahead and link it to this page and I look forward to seeing everybody there