AUDUSD - Pullback Trade
Updated
Dear traders, the following are what I observed;
(Overbought signal): Price is at the upper BB MA (bluish/green color), as such, price will most probably pullback...
Stoch, Stoch RSI, & RSI all touching sell zone signal... MACD looks prepared to turn back downwards...
Price target is not cast in stone (I will take profit anytime when see fit)...
Best regards.
Trade safe.
*BTW, these indicators-theory worked rather well in small timeframes like the 1min chart (for scalping trades), & have also proven to work surprisingly well in longer timeframes like the 4hr & 1d chart (for swing trades)... But I enjoy more using them to perform rapid scalping/hedging in the 1min chart especially... :)
(Overbought signal): Price is at the upper BB MA (bluish/green color), as such, price will most probably pullback...
Stoch, Stoch RSI, & RSI all touching sell zone signal... MACD looks prepared to turn back downwards...
Price target is not cast in stone (I will take profit anytime when see fit)...
Best regards.
Trade safe.
*BTW, these indicators-theory worked rather well in small timeframes like the 1min chart (for scalping trades), & have also proven to work surprisingly well in longer timeframes like the 4hr & 1d chart (for swing trades)... But I enjoy more using them to perform rapid scalping/hedging in the 1min chart especially... :)
Trade closed manually
I decided to close this trade with a small loss at about 0.74440 level just now... I am going to look for another trade to take...I just didn't have a good feeling about it (that it will go down)..., & the indicators also started warning me that it may not go down any further (most probably AUDUSD is on an uptrend), so I decided to quit this trade to stay safer...
Best regards.
Trade closed manually
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