AUDUSD short setup
Updated
AUDUSDFollowing my system - the pair touched the .618 and might fall back down to .786
If it does, there is a high probability of dropping lower than 1.00, so my entry is set at slightly below .786
The initial stop will be defined by the market's lower-highs from the new inside-trend evolving but not higher than the .5
The moment the market leaves 1.00 below the stop loss will be trailed to entry + commissions to take the risk off the table.
The moment the market arrives at first target 1.236 fib the stop will be trailed to the 1.00 level.
The target is set slightly below the 1.618 "perfect target" because the market has set a strong support at 0.6722 lately.
Happy trading
Trade active
Sorry about the mistake its NZDUSD of course...Anyhow, first target reached stop has been moved to entry level to remove the risk off the table and the first lot was pocketed
Trade active
Mid point reached and we touched the 1.236 extension.Stops trailed to 1.00 for a "R" tp if it reverses
Stay tuned
Trade closed: stop reached
Well sad/happy news. Trailed stop reached 0.6771.Its a wrapped position with 2 lots hitting almost the same pip range. The position was instantly profitable because of the later entry at the burst down so there was actually a minimal risk and the stop was very tight.
Thanks for following!
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