Hi All, After a nice retracement, we can see that the short term uptrend was broken with strength from the market, therefore we can expect further downside. My only concern on this trade is if my stop is large enough, but I'm not willing to go higher than previous market high, so let's ride this out as it is a nice RR trade.
EURAUD has broken its uptrend that has been forming over the past few weeks as it came into a strong area of resistance. The trendline was broken with market strength and I think we hold resistance and come back down, possibly signaling a larger downtrend. For now, I have my profit target set, but will most likely only sell 1/2 the position if we TP and let the...