AUDUSD finds resistance Short

FX:AUDUSD240

Australian Dollar/U.S. DollarFXCM

Description

⋅ Jan 5, 2017 11:33 AM

I'm going short after the sell signal.
AUDUSD found resistance at a previous swing low.

Trade closed: stop reached

⋅ Jan 6, 2017 8:52 AM

the set up on another day could have worked. Just going to be patient and wait for the next one now

Comments

paulymat

⋅ Jan 5, 2017 10:34 PM

what do you think the best value to put a sell in is going to be?

UnknownUnicorn613167

⋅ Jan 6, 2017 8:50 AM

@paulymat,
my initial long idea on AUDUSD looks like the best idea I had. I'm going to wait for DXY

to get back up to resistance and see how low AUDUSD has got to at NFP.
Then if both DXY and AUDUSD are at good levels, i'll look to trade AUDUSD in the opposite direction to DXY
I'm kicking myself a little for being scared out of holding the AUDUSD long but I trade what I See and Feel, and AUDUSD did gove me a signal to short at major resistance , so this time I just need to accept this loss and wait for the next set up.
On my currency strength chart, USD is still on a Daily looking the most likely to drop and the AUD is looking the most likely to rise.
I was biased out of my long from another trader I know. Going to have to stop looking at other peoples charts in 2017 :)