Short

AUDUSD - Potential Short Play

Updated

It looks like AUDUSD has reached a very strong trend S/R line. I am looking for a short play with my target at the specified area. Good luck all!

Trade active

Short opened @ 0.74978
S/L 30pips
Target @ 0.73300
1st T/P 0.74150

Note

Very quiet trading day thus far. Not much movement.

Note

Markets are still very quiet with little direction. Closed 1/2 my position at +25 pips to be on the safe side. Tighten stop loss to 0.75100 in case it breaks up.

Note

Set to breakeven. I will very likely get stopped out, and if after that it does trend down, then I will look for a retest to get back in. However, at this very moment, market is flat lined and I am erring on the side of caution and capital preservation.

Trade closed: stop reached

Note

AUDUSD has exceeded the S/R line and did not head down as anticipated. Will now let thing play out to see where momentum will take us. Safe trading all.

SageFXTrading

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.