EURAUD Short - A Risky Countertrend

6 Ara 2018

With most AUD pairs seem to have reached key support levels and about to reverse up, and EUR going ranging, riding a possible immediate consolidation for this pair. Setting up sell stop order with 1st TP @1.56210 (38.2% fib), and possible to trail this until 2nd TP (0% fib) by next week, and hard SL @1.58 (few pips above its current high/past the 100% fib level).


Daily:


Weekly:


Confidence: B (risky because it's going against its recent bullish momentum-- I'm not really into countertrend trading, unless I think the pair is going into a ranging pattern hiatus after a strong trend)

7 Ara 2018

İşlem elle kapatılmış

Thankfully my sell stop order didn't get hit:P But most likely will short this again by next week or the moment I see a confirmed reversal (safer).