Here goes my first post...
Shorting the AUDUSD based on the idea that there is re-test on 0.382 on fib, which would set up a sweet entry at 0.74845. I tend to keep my stop losses tight, usually around 20/30 pips away.
Expecting this trade to go down to 1.272 on fib extension which will allow us to bag a nice 304 pips. Expecting trend reversal at this stage as there is heavy support/price action at this position.
Shorting the AUDUSD based on the idea that there is re-test on 0.382 on fib, which would set up a sweet entry at 0.74845. I tend to keep my stop losses tight, usually around 20/30 pips away.
Expecting this trade to go down to 1.272 on fib extension which will allow us to bag a nice 304 pips. Expecting trend reversal at this stage as there is heavy support/price action at this position.
Trade closed: target reached