New Short Reversal on AUDNZD 1 H - lower lows lower highs

I tried this pair yesterday with the Bill Williams Awesome Indicator Strategy but my rule four (enter when AO crosses 0 line short and paints first red bar) kept me out of the trade. This saved me from getting into a trade when the pair wasn't ready to short and the timing was wrong. Today I see that a new reversal short trade is setting up again. On the 1 H chart I see several lower lows and lower highs. My Macd is overbought. I am entering with a sell limit just below the 50 level @ 1.0547. Early this morning the pair spiked down to 1.0494. So I want to bank my money early, I am closing all my positions at 1.0503. The Day and 4 H charts show TP levels @ 1.0480 and 1.0450 areas (resistance on 1 H shows current resistance around 1.0460 area). Watch 15 m chart when price is around these TP areas for your exits. We have many different strategies to learn on our blog and we are constantly coming out with new strategies for traders to learn every week. Visit us below on the website, Twitter or Facebook.

Comment:

Price has moved away long from my sell limit @ 1.0547 so this trade has been canceled.