Yesterday AUD reports worst GDP 3rd quarter in 5 years, trade figures come in terrible, yet, Aussie is still rising. this cant be due to Iron Ore, all analysts are scratching their heads thinking wtf!
I went short AUD/USD yesterday at 74.33, thinking it cant but keep going down, but the moment I enter my trade, it starts rising. I’m now sitting on a 60pip loss, and thinking the f… didn’t I put a stop. I really didn’t expect it to get to here but here we are.
Anyone think this will go back down anytime soon or should I just cut my losses and get the hell out?
Just got a bearish hammer candlestick on the 1h chart, thinking it might move south soon.
Now, AUD/USD is a range from 0.73186 to 0.7719 (according to the daily candle). In addition, I opened a buy trade around 0.73361 level with 65 pips SL! Right now I am with 143 pips profit but till now I am waiting for my TP (280 pips)! Actually, I do my live trading according to my price action knowledge, PA strategy is enough to read hidden language of Forex market!
Currently, the AUD/USD pair is recording the fifth negative day in a row and plunged more than 3%. I hope that you handle the loss and you did not get out of the market.