AUD/USD, DAY CHART, SHORT (18-NOV-2016)
Updated
Zoom out the Day Chart, you will able to see a super long downward trend. So overall it is bearish.
But, recently, the price breaks the upward trend and with 2 days Pull Back.
Now, the price breaks the support level at 0.74204. The price pull back touched the support level and continue moving down.
It is a good time to short it now.
But, recently, the price breaks the upward trend and with 2 days Pull Back.
Now, the price breaks the support level at 0.74204. The price pull back touched the support level and continue moving down.
It is a good time to short it now.
Trade active
EP: 0.73929SL: 0.75802
TP1: 0.71850
TP2: 0.68431
Looking the price to pull back on 20-EMA (4hours chart) and short again.
Trade with proper risk management.
Trade active
In order to minimize the risk of carrying trade over the weekend, we have decided to move the Stop Lost to Break Even Point at 0.73929. So right now, it is a risk-free trade. :)
Note
From Day Chart, this pair is still quite bearish. And, there is more room for bearish to run.
Watch any Pull Back on H4 or H1 Chart and add on another short trade again :)
Trade closed: stop reached
Break Even Stop Loss was hit. We will monitor this pair and it might be good to entry short side when a bearish signal appeared.
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