Short AUDUSD at 0.7575
Trading Plan: small lot, short at 0.7575, stop loss at 0.765, first profit at 0.7475, second profit at 0.7326.
Reasons:
1) Commercial traders have large sums of short lots currently
2) 0.7575 is a Fibonacci level which serves as resistance
3) 0.765 is Fibonacci level
4) Profit/ loss ratio is 1.47; not great, so small or mini lot.
5)Second profit target is determined by structured resistance level
Wish you all good luck at trading!
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Results: to be continued
Learning: to be continued
Reasons:
1) Commercial traders have large sums of short lots currently
2) 0.7575 is a Fibonacci level which serves as resistance
3) 0.765 is Fibonacci level
4) Profit/ loss ratio is 1.47; not great, so small or mini lot.
5)Second profit target is determined by structured resistance level
Wish you all good luck at trading!
----------------------
Results: to be continued
Learning: to be continued
Note
Results: short at 0.75751 with 0.15 lot at FXCM; order closed at 0.75415 with a profit of 50.25 USD. Learning: not followed the trading plan....... not a good trade.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.