After the nice winner on a long on this pair, I'm now trading a short on the 3 drives pattern that was established and with the weekend gap serving as resistance on the upside.
I am looking for a retracement into previous highs as a primary target and the 61.8 fibonacci retracement as a secondary target.
The stop loss is defined by a 1:1 R:R for the primary target and the reasoning that when the weekend gap is closed the trade is invalid as this is one of the reasons for entry.
Trade ist aktiv
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For those who are in this trade, be aware that the RBA monetary statement is up for tonight and that tomorrow we have the NFP coming up. Protect your capital !
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Moved SL to break even in anticipation of the RBA Monetary Policy Meeting ...
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RBA Monetary Policy Meeting did not cause any damage so the trade is still open with stops at break even. I will keep it that way. If targets are not reached before the NFP, I will close this trade before the news is released and take whatever pips the market has given me up to that moment.
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Being in the live room I forgot to close the trade, luckily the market hardly reacted so I will keep the trade open and go look for those targets.
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Target 1 reached, stops were already at break even
Trade geschlossen: Ziel wurde erreicht
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Ka-Ching, another 130 pips booked to the account. AUDUSD has been very nice to me in the last 2 day ... looking for the next setup now.
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jhakas
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nice i have same views..
Nico.Muselle
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Good stuff ! Let's see what the NFP has in store ...