Week 9 Trade 2 AU Short
Reasons for entry:
- Possible 1hr H&S pattern
- Price has rejected 0.7175
- Price is showing a loss of momentum
- Price is rejecting the 78.6% fib
Entry Timeframe:
- 15 min bearish engulfing
- @0.7178
Stop Loss:
@0.7185 (-7pips)
Take Profit:
- Target 1 @0.7055 (+123pips) = Risk/Reward : 1:17.6
- Target 2 @0.7000 (+178pips) = Risk/Reward : 1:25.4
Notes:
-
- Possible 1hr H&S pattern
- Price has rejected 0.7175
- Price is showing a loss of momentum
- Price is rejecting the 78.6% fib
Entry Timeframe:
- 15 min bearish engulfing
- @0.7178
Stop Loss:
@0.7185 (-7pips)
Take Profit:
- Target 1 @0.7055 (+123pips) = Risk/Reward : 1:17.6
- Target 2 @0.7000 (+178pips) = Risk/Reward : 1:25.4
Notes:
-
Note
Trade has reached +30pips profit and is now risk free
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.