A possible short selling trade on AUD/USD Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Apr 18, 2015 4:49 PM

After soaring higher this week, an exhausted shooting star was formed on 120 m TF, the rejection was confirmed by the second bar, I prefer to sell short on the selling zone between 0.7800-0.7810, SL immediately above shooting star candle, the first take profit target will be 0.7735, second 0.7675, and the third 0.7610, the Risk to reward ratios: 1:1.625, 1:3.125, and 1:4.75 respectively.
Good Luck

aud_usd

Comments

SmartBonanza

⋅ Apr 21, 2015 6:26 AM

First Target hit smoothly, now I will move SL to break even.
Good luck

TheBulltrader

⋅ Apr 18, 2015 8:04 PM

I'm selling based upon the shooting star as well on the daily. Good resistance to short again. Nice planning.

SmartBonanza

⋅ Apr 18, 2015 8:26 PM

Thanks Spencer, it seems good and the odds to work nicely are high, let watch next week to see
good luck