What are pt1 and pt2?

I have been reading the blogs in this site.
some of the trades shown in the blogs which I may not fully understand such as:

Short AUD/USD at .8120, stop at .8170, pt1 at .8100, pt2 at .8050

I think these mean:
Short will be triggered at 0.8120. Stop means the Buy Stop, will buy (long) at 0.8170. pt1 and pt2 are the profit taking points for the short.
Are the interpretations correct?


Yep I would say that is about right, the stop loss would be
set at 0.8170 & this was triggered because the trade did
turn around. :slight_smile: