I am going long this pair because all timeframes I watch are aligned and the setup was very obvious. I think this trade (if correct) could be held for a longer period.
I am taking a short term short position on this pair with all rules applying except it is in some strong buying area so it basically betting that price will at least revisit the lows
I am taking half the full risk on this trade because of that obstacle I am seeing.
I am taking this short dispite the quick snap back up to supply because this are has good structure, is in line with my rules, and made a new low under the old areas of demand. the V that this price has created is a little scary, but it still follows my rules.
I am short the EURUSD with a wide stop about the last supply/resistance whatever you want to call it. It didn't hold down out of the little tight range it is in like I had hoped. so the momentum I thought was going to be there, wasn't there.
I entered this position missing a few criteria. So it was not a very successful trade.
I am calling this a hedge but it is a test trade because I think the macro trend is going to turn up for maybe a little bit in this pair. but I am not nervous to take it because of my small risk and opposite position short the dollar AUD.
I am taking this trade because it took out supply for the first time since reaching these macro demand levels.
I was previously short this pair, but price showed me rather quickly that I was wrong. so I exited all USD Long positions and put on a small position long AUDUSD to see how long the trend will continue.
I am going short against the major trend with half position because I like how price hit a wall against old supply level and began fading back to some used up demand zones. zones that might be easy for sellers to remove if the buyers are all used up. but I am cautious because of the momentum and will jump out if it starts to act like a short term pull back
Trade taken, rules apply. plenty of space to se if the lows hold or if I am going to be wrong.
I think the dollar might gain some strength in the coming week or 2.
