Week 8 Trade 3 AU Short
Reasons for entry:
- Possible 1hr H&S pattern
- Price has rejected 0.7150
- Price is stagnating and showing a loss of momentum
- Possible weak Eveningstar candlestick formation on the 1hr timeframe
Entry Timeframe:
- 15 min bearish engulfing
- @0.7140
Stop Loss:
@0.7155 (-15pips)
Take Profit:
- Target 1 @0.7050 (+90pips) = Risk/Reward : 1:6.2
- Target 2 @0.7000 (+140pips) = Risk/Reward : 1:9.6
Notes:
- Risky trade but good Risk/Reward
- Possible 1hr H&S pattern
- Price has rejected 0.7150
- Price is stagnating and showing a loss of momentum
- Possible weak Eveningstar candlestick formation on the 1hr timeframe
Entry Timeframe:
- 15 min bearish engulfing
- @0.7140
Stop Loss:
@0.7155 (-15pips)
Take Profit:
- Target 1 @0.7050 (+90pips) = Risk/Reward : 1:6.2
- Target 2 @0.7000 (+140pips) = Risk/Reward : 1:9.6
Notes:
- Risky trade but good Risk/Reward
Trade closed: stop reached
Took a small loss of -15pips, currently waiting for another short opportunity
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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.
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.