AUD/USD short to rising wedge bottom
Updated
Hi traders,
I entered short last night at .77659 stop at .77942.
Daily 5 EMA and 10 EMA both heading down and 5 EMA below 10 shows continued downside momentum. Entry was at fib level after rejecting multiple times.
Stop is at .786 due to other entry requirements for system.
Take profit will be done by trailing stop of making a multiple (very high multiple).
Chances of success of this system ar pretty low as tight stop and big take profits but 1 good trend is all it takes.
I also like this due to risk off sentiment which will hit the AUD also laclustre retail sales.
It also acts as hedge for my below trade on AUDCAD taken a few days ago.
I entered short last night at .77659 stop at .77942.
Daily 5 EMA and 10 EMA both heading down and 5 EMA below 10 shows continued downside momentum. Entry was at fib level after rejecting multiple times.
Stop is at .786 due to other entry requirements for system.
Take profit will be done by trailing stop of making a multiple (very high multiple).
Chances of success of this system ar pretty low as tight stop and big take profits but 1 good trend is all it takes.
I also like this due to risk off sentiment which will hit the AUD also laclustre retail sales.
It also acts as hedge for my below trade on AUDCAD taken a few days ago.
Trade closed: stop reached
Stop reached order to short at .78242 has been placed
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.