[TW] 10-14-2011 AUD/USD (Short) by Pip Devil

Trading Discussion
1

after a 3-week hiatus, it’s time for me to share my trades ideas again

AUD/USD, 1HOUR

Chart:

audusd.jpg700×525 29.5 KB 

Long or Short: Short
Entry Point: Market (1.0190)
Stop Loss: 1.0250 (above doji's high)
Profit Target/s: 1.0110
Reward-to-risk Ratio: roughly 1.3:1
Risk percentage: 2%
Indicators used: Stochastic (14, 3, 3)
Trade Rationale:

- Risk appetite has faded, we could see a pullback
- AUD/USD stuck in a range for 2 days now
- Don't see any major event to cause an upside break
- Doji at the previous highs

Trade Adjustments:
None
2

If you have taken this trade, as the chart suggests you have, then I’m afraid it already closed out ages ago :confused:

3

AUD-USD is now 1.033487…
If you have taken that trade you will probably lost 60 pips…

P.S. Add the MACD indicator to you trading platform and you will be able to spot trades more easier…

Cheers

4

Yeah, my trade didn’t go well. A bit too aggressive with my entry. Price currently dropping. Oh well, can’t win them all!