AUDUSD Short Set Up, Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Mar 12, 2015 9:09 AM

The price has reached 38.2 fibo level of 4h down move, possibility to major down move continuation from here is highly possible.

Trading Idea
Short Entry

Sell market
Target 1 : 0.7570
Stop Loss: Above 0.7868

Buy Stop Sell Stop Order at
Target:
Stop Loss

I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy)