[TW] 5-25-2012 -AUD/CAD (Short) by PSalda (NOW)

AUD/CAD, H1

Long or Short: SHORT
Entry Point: 1.005 range
Stop Loss: 1.008 (Resistence Key Level)
Profit Target/s: 1.000
Reward-to-risk Ratio: 1:2
Risk percentage: 2%
Indicators used: Fibs / Pivot / Line drawed (No other indicators!)
Trade Rationale: Negative Long Term Trend (look for a short opportunity). After the retracement, we are seeing a consolidation level on 61 Fib retracement to enter the trade and go with the trend!
Trade Adjustments: Could be exit 50% on profit target; continue with the other half until 0.995 and adjust SL to entry level.

Read more: http://forums.babypips.com/readers-choice-trade-week/38850-trade-week-rules-contest.html#ixzz1vtaxseNt


You have my vote this week. But I was wondering what that red and green histogram at the bottom of your chart. Looks like an indicator to me. I tried to enlarge my screen, but the image was too blurred to read.