AUDUSD [1 week view]

Short AUDUSD
Entry: 0.71635
SL: 0.7215
TP: 0.7020
R/R: 1:3

Market reacting below descending trendline resistance.
Also, MACD forming a bearish sell signal and reversing
Market now below 13-period EMA

Note

Trade is now break even and risk free. I've moved my trailing stop

Note

I will probably take profit soon at 0.71. Reason because it is the 61.8% fibo retracement and also the ascending trendline support.

Trade closed manually

As mentioned, i took profit around the 0.71 region. This trade worked out nicely for me.

Note

Showing where i took profit.

laughingchartist

Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28

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laughingchartist

Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28

Also on: