Long $AUDUSD at 1.0207

I exited the $AUDUSD swing short late last week, and ended up missing a decent chunk on the downside -- since I was partially biased/scared off by the oversold conditions on the daily chart.  But I need to remember that just because something is oversold, doesn't mean it can't go down much much more.

But it looks like we're finally getting that oversold bounce, and although I admit the overall longer term trend is still down, it looks like there might be an opportunity for a few hundred pip bounce.

So I went long today at 1.0207 with a stop loss currently at 1.0175, based on the charts below. 

The daily chart below shows the potential targets.  There's currently quite a bit of confluence and symmetry/structure in the $AUDUSD.

$AUDUSD Daily chart

The trigger to enter was based on the C2E setup on the 15 minute chart (below), which is simply based on the trendline and stochastics -- get on board in the direction of the trend on a pullback.

About half of these setups will get stopped out, and assuming it does go in my favor, I will only consider moving the stop once it goes 2R or 3R (2 or 3 times my initial stop amount) in my favor.  So mentally, I consider this trade is pretty much done/gone, and will start looking for the next opportunity soon.