HumbleTraders
Short

AUDUSD 21 Sep 2015 - short

FX:AUDUSD   Australian Dollar/U.S. Dollar
Why?
AUDUSD             has been in correction since 07 Sep. The long term down trend must be
assumed. The pair hit major weekly pivot point level and it has been overbought.

How
Enter short position after Aussie pulls back towards 61.8% of the last leg down.

Profit taking
Exit half position @ 0.7050
Move to BE at 0.7050, the first reasonable support - former resistance ( screenshot)


Option hedge
Enter CALL option @ the entry to cover 40% of the stop.
Two days later Aussie moved sharply down with no pullback. This position is cancelled.
Reply
Entry moved to 0.7210 - 50% of the recent leg down
Reply
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