12-12-12
Pair: AUD/USD
Long or short: Short
Time frame: Daily
Chart:
Trade rationale: Rising channel and strong resistance at 1.0600 as seen on the daily chart. I think today’s FOMC statement could send the pair there but I doubt that rally would last so I’m looking to short later on.
Entry: 1.0600
Stop loss: 1.0650
Profit target: 1.0500
Reward-to-risk ratio: 2-to-1
Its like you can read my mind. I am with you on this one all the way
Me also will join you too… But let me see how 1.0600 level act.
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I’ll third that, it’s like you two have been looking over my shoulder looking at my charts! I’ve had a level on mine at 1.0619 for a while now. I’d love a Daily high test with the tip of the wick at 1.0619 with the top of the body of the candle at 1.0600 and some RSI divergence thrown in. Well, it’s nice to have dreams.
Seriously, shorting out of 1.0600 will likely have some of my account behind it.
ST
Ha ha ha… Lol…
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i think ur SL is lil small, you leave yourself lil rooms for error, coz if ur trading that resistance line, you’ve gotta implement a lil bigger SL in case of false breakouts
also your profit target is a bit low? at least 1.04 - 1.035 for profit target
overall not bad
it’s a golden opportunity coming up for sure, but just have some more room for your SL + Profit
also, if it’s a breakout, it will be a golden buying opportunity
