AUDUSD rejection at 113% level

AUDUSD rejection at 113% level

I decide to enter a short position at 0.7706
as this is the 113% extension level which often
detects a fake break out.

the RSI already shows Divergence
the price action shows nice rejection at his level
a long tail candle touchs and falls quickly
SL is very tiny: 0.7716
Target is very big 0.7477 and 0.7150

Comment:

So far So good, 50 pips +

Comment:

A SPIKE HIT THE SL
so exit trade first

Comment:

tmr is NFP. lets wait the NFP comes then decide whether to re enter the trade or not

Comment:

Trade active:

FILLED AT 0.7645

Comment:

Comment:

We short at 0.7645, now is 0.7626.

Comment:

Comment:

Take some profit at 0.7520 +120 pips