Last night I saw an opportunity in the AUDUSD 4 hour chart,
and entered into a short Aussie position.
Entry trigger:
10 EMA crosses below 20 EMA
Candle also closes below 23.6 fib level in red.
MACD heading lower
Stochastics on its way down
ADX above 20 and heading higher
Entry level: 1.0096
Stoploss: top Bollinger band is around 1.0170 levels, so
I’ve placed my stop at 1.0172.
Target: assuming I use a risk ratio of 2:1, my target will
then be 0.9944.
I will move my stoploss to break-even when price action
reaches 1.0020 which is at a risk ratio of 1:1.
I hope this trade works out!! Keeping my fingers crossed!
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