FX:AUDUSD   Australian Dollar / U.S. Dollar
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If we look at AUDUSD             on the weekly charts, we can see that the pair has been in a long-term decline, and is currently experiencing a Fib 68% retracement.

However, when we examine the pair on the Daily chart , the short term trend is up since Jan 16, and price could be retracing to Fib 68% (0.7210).

If 0.72100.7200 holds, we could see price go higher. If the level breaks, then price likely to fall to 0.6900.

Weekly view
Trade closed: stop reached: Closed only because I moved the SL
Comment: Will look to re-enter
On review, this was a valid trade.
Reply


I moved the SL to BE and damn I got stopped out!!! Otherwise trade would still be open.
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