FX:AUDUSD   Australian Dollar / U.S. Dollar
reasons to short :
61.8 fib level
strong resistance level in a downtrend
high of the channel

you can take a look to my last idea about this trade on the weekly chart
trade with care .. good luck
Comment: two targets reached
Trade closed: target reached

Comments

Great cahart as allways !

I've catched only second leg

+1 Reply
formed a double top, perhaps a good place to sell
Reply
@Brat_, yes , wait for a strong signal and we're good to short .. good luck
Reply
Brat_ A.Sankar
@A.Sankar, I do not know how it happened, but I could not hold the position, very early closed, sadly. This is due to the fact that the increased risks I use, I try to disperse the Deposit to a certain amount, then to reduce the risks, but often one wrong transaction eats up all the profits.. Thanks again for your ideas, I've looked through them all, the trading method is very similar to mine, everything is logical and clear.
Reply
@Brat_, set your own rules in order you to hold trades like this especially if you're sure about the direction , for me when i enter a trade i don't use stop loss , however i set my stop above/below the entry with 100/200 pips depends on how strong is the trend ,just in case something crazy happened , but i get out when i see that the price action is showing a reversal at my levels of support/resistance.. good luck
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