Trade Idea: Short on AU
Updated
Break, retest and rejection of the wedge/flag on the 15-min TF, looking for a sell to 0.72299
Note
Bearish USD news sent AU price to the 78% fib retracement giving a possible re-entry.
If you're new to trading, use a small lot size and manageable risk to reward.
Note
forexfactory.com/Although the news were yellow folders, they caused the dollar to go bearish and it affect my target.
Another news is at 3pm EST, hopefully this does not hit my SL.
If price does not return to 0.734 by 9am EST tomorrow, I'm closing this trade.
Trade closed: stop reached
The market didn't allow me to reach my target so I got knocked out for -21.5 pips. Will return to London and Asian sessions tomorrow to reanalyze where price wants to go.
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