AUDUSD DOUBLE TOP AND RANGE ROTATION Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Dec 3, 2015 4:08 AM

AUDUSD RANGE ROTATION
BUYER TRIED TWICE BUT CAN'T BREAK 0.7320
Enter A Short Position
Target : 0.7170
We can also see there is a doulbe top formed
and breaked the neck line.
so now it is a good time to short because it is
a pull back

Comments

kevinxin

⋅ Dec 3, 2015 4:13 AM

Hi Jack, short now? what will be the SL?

kevinxin

⋅ Dec 3, 2015 1:16 PM

Sorry, i didn't notice the entry price, stop loss and take profit are all inside the chart

thomas_moyse

⋅ Dec 3, 2015 8:26 PM

any update on this pair?

Pennington1

⋅ Dec 3, 2015 1:42 PM

Would this trade still be valid?

kevinxin

⋅ Dec 3, 2015 2:07 PM

Compare to GBPUSD and EURUSD, AUDUSD does not move up much. So once GBPUSD or EURUSD starts to move down, i think AUDUSD will drop even faster

Pennington1

⋅ Dec 3, 2015 2:29 PM

Thanks for the reply! Very new to forex markets here

kevinxin

⋅ Dec 3, 2015 1:19 PM

what a pity! price touched your SL then come down

VinceBauer

⋅ Dec 3, 2015 12:13 PM

I think it will be triple top