EURAUD has enjoyed a healthy uptrend for 10 straight days and now seats at nice demand zone - a previous daily resistance and also RSI is in the 80 level zone. AXY is currently oversold while EXY RSI is already below 50 and price is seating the 200EMA, which is a solid resistance level.
I am assuming this is a psychological level which big players are watching and therefore I choose to short it at market price and allow enough wiggle room for stop-hunts in case they happen. Fibs are in extension and RSI though not overbought has limited upside. One trade is taken at market price and the other will be a pending order to be filled if a stop hunt happens.
Cheers!
I am assuming this is a psychological level which big players are watching and therefore I choose to short it at market price and allow enough wiggle room for stop-hunts in case they happen. Fibs are in extension and RSI though not overbought has limited upside. One trade is taken at market price and the other will be a pending order to be filled if a stop hunt happens.
Cheers!
Trade active:
Entry 2 pending order has been triggered. Now 2 positions are open.
Trade closed: stop reached:
I was early for the party on this one :) But I am going short again :D
