Get started
laughingchartist

AUDUSD [1 week view]

Short
Australian Dollar / U.S. Dollar (FOREXCOM:AUDUSD)  
laughingchartist Updated   
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators AUDUSD Forex trading investing charting Technical Analysis CMT laughingchartist
2
0
trendanalysis chartpattern indicator audusd forex trading investing charting technicalanalysis cmt laughingchartist
Short AUDUSD
Entry: 0.71635
SL: 0.7215
TP: 0.7020
R/R: 1:3

  • Market reacting below descending trendline resistance.
  • Also, MACD forming a bearish sell signal and reversing
  • Market now below 13-period EMA
Comment:
Trade is now break even and risk free. I've moved my trailing stop
Comment:
I will probably take profit soon at 0.71. Reason because it is the 61.8% fibo retracement and also the ascending trendline support.
Trade closed manually:
As mentioned, i took profit around the 0.71 region. This trade worked out nicely for me.
Comment:
snapshot

Showing where i took profit.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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.