Watching AUDUSD today, same as yesterday however today we got a signal candle. Looking for a retracement entry as we're not at the open yet so can expect some volatility soon.
Looking at yesterdays move we had a more exaggerated overnight move which lead to some strong downside, here we're had a stable overnight session so there is a risk price may push higher. Watching GBPUSD too, which has posted some lower wicks late Thursday suggesting potential bullish pressure.
Ultimately the trade ticks the boxes so we need to take it, but I'd be much more confident if this setup appeared yesterday instead.
Looking at yesterdays move we had a more exaggerated overnight move which lead to some strong downside, here we're had a stable overnight session so there is a risk price may push higher. Watching GBPUSD too, which has posted some lower wicks late Thursday suggesting potential bullish pressure.
Ultimately the trade ticks the boxes so we need to take it, but I'd be much more confident if this setup appeared yesterday instead.
Trade active:
Retracement entry triggered but watching this bullish action at the open very closely. I want to see the 0.68000 level hold as resistance.
Trade closed: stop reached:
Stop reached on the remaining 75% of the position. The bullish move was always a threat so it's not unsurprising.
I would have liked to have been able to scale out a little more but GBPUSD did put in a temporary high and looked to be turning around, so I may have held a little too much hope for AUD to do the same.
We'll get 'em next time!
I would have liked to have been able to scale out a little more but GBPUSD did put in a temporary high and looked to be turning around, so I may have held a little too much hope for AUD to do the same.
We'll get 'em next time!
The threat of bullish action at the open has taken hold and price is looking very strong. Best to cut down the size as early as possible here, we can always add if things turn around.