very nice short oppurtunity
Updated
-AUDUSD has been rejected by a huge resistance level
- It has broken the trendline signaling a trend reversal and a good trade oppurtunity.
-I am waiting for a pullback off the support line for entry.
-as we have broken trend nice tight stops can be used as it is highly unlikely to break to new highs.
(i could even make them tighter but will stick with it for now)
- This could turn out to be a very profitable trade.
- It has broken the trendline signaling a trend reversal and a good trade oppurtunity.
-I am waiting for a pullback off the support line for entry.
-as we have broken trend nice tight stops can be used as it is highly unlikely to break to new highs.
(i could even make them tighter but will stick with it for now)
- This could turn out to be a very profitable trade.
Note
order entry missed.Will keep it open for now but if we see it push passed this current resistance I will cancel the order.
Order cancelled
the big short has gone but I see an opportunity for another short trade with entry on a bounce off the 38.2 level.Expected too much of a pull back before the drop, it did pull back but didn't pin-point the entry enough. lesson learned.
happy trading.
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