Week 9 Trade 2 AU Short
Updated
Reasons for entry:
- Possible 1hr H&S pattern
- Price has rejected 0.7175
- Price is showing a loss of momentum
- Price is rejecting the 78.6% fib
Entry Timeframe:
- 15 min bearish engulfing
- @0.7178
Stop Loss:
@0.7185 (-7pips)
Take Profit:
- Target 1 @0.7055 (+123pips) = Risk/Reward : 1:17.6
- Target 2 @0.7000 (+178pips) = Risk/Reward : 1:25.4
Notes:
-
- Possible 1hr H&S pattern
- Price has rejected 0.7175
- Price is showing a loss of momentum
- Price is rejecting the 78.6% fib
Entry Timeframe:
- 15 min bearish engulfing
- @0.7178
Stop Loss:
@0.7185 (-7pips)
Take Profit:
- Target 1 @0.7055 (+123pips) = Risk/Reward : 1:17.6
- Target 2 @0.7000 (+178pips) = Risk/Reward : 1:25.4
Notes:
-
Comment
Trade has reached +30pips profit and is now risk free
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