Price has just broken entry line on 1H chart, coming from the downfall of a double top formation. Should get a 1/1 risk/reward with an almost 50 pip goal.
Posted too early without waiting for a candle close through entry, never did quite get the entry and luckily didn't put any money on the line with this one, so still 100% on projections #TheBreakfastClub
@caboodle, I'm not too up to date on the news I mainly just follow a set strategy so I couldn't tell you. I try to avoid some trades if there is potentially market moving news but so far the strategy has proved to give the same results regardless of the news, sorry I couldn't be of more assistance!
@Cailimb, no worries, i just know that in us it's all over news about how we are having "trade wars" because we are bringing steel manufacturing back to US, this has had a major impact on some markets, but i heard AUS was excempt, so i wondered how this would effect the short call. That said, i'm in short and it's looking good. What do you recommend for "taking profit" on this short?
@caboodle, My target right now is around 0.77280 going off of tradingview, however I was given a false confirmation, once the price closes underneath the line between blue and red will be the proper entry, but there's some good divergence indicating a fall and it looks to me like a double top so hopefully it will make it's way down. Hoping for a 45-50 pip win overall.
@caboodle, Right now I would say it is going to continue going down, but don't take my word for it aha, still waiting to see what the start of the week brings, maybe not something I'd trade but I'll certainly keep an eye on it!