Hi guys’ this particular pair is of interest in this zone , we’ve seen it go beyond parity to the 1.0130 levels this year but not sustain for too long. I’m looking for a short opportunity back to the 61.8 fib level ... possibly lower @ 0.9850 on a hold below parity in the next day or so . I expect weakness and a drop subsequently. Now my trading style I’m not a fan of using stop losses ( want to make profit out of losses ) I will hedge (at the same amount I short) above 1.008 level to 1.0030-40 and possibly to 1.0070 if the upmove shows sustainability. Then on a stall ,remove hedge and continue the short I originally set.
Trade closed: target reached