Week 9 Trade 2 AU Short Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Feb 25, 2019 3:10 PM

Reasons for entry:
- Possible 1hr H&S pattern
- Price has rejected 0.7175
- Price is showing a loss of momentum
- Price is rejecting the 78.6% fib

Entry Timeframe:
- 15 min bearish engulfing
- @0.7178

Stop Loss:
@0.7185 (-7pips)

Take Profit:
- Target 1 @0.7055 (+123pips) = Risk/Reward : 1:17.6
- Target 2 @0.7000 (+178pips) = Risk/Reward : 1:25.4

Notes:
-

Comment

⋅ Feb 26, 2019 12:32 PM

Trade has reached +30pips profit and is now risk free