Postion
Short

AUDUSD - One last dive before the GO LONG

FX:AUDUSD   Australian Dollar/U.S. Dollar
43 1 0
Is my target too narrow?
dojitrader
2 years ago
Your targets seem reasonable to me. If you want to extend the possibilities
consider using 2 trading units with the second targeting the trend line area
somewhere @ .9160/70. From my experience, placing your stops right on
the highs @.9306 is just begging to be taken out. I would suggest putting them
another 10/15 pips or so higher. If that raises the risk beyond ones comfort zone
then try to sell a bounce as the highs have a huge probability of being tested
once, twice, three times --- how many times one never knows so it pays
to give the price action enough space to slop around until the anticipated
trend gets started. Until then, and perhaps it will take greater divergence
on the RSI, etc. Markets (traders with deep pockets) just love to test an area
that will so obviously, have lots of traders putting protective stops
Wishing you lots of pips in 2014 !!!!!
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