The AUDUSD pair has been retracing up for a few days now, and during the course of today, it hit the resistance level of 0.74407 that I’ve been watching.
I decided to take a small trade at 0.74374 with stop loss just above the resistance level.
It only took a few hours before some heavy selling on this pair took price down to 0.73926 when I closed for a decent profit.
If price stays at this level or goes lower, there’s further opportunity for it to continue falling and perhaps another trade with a wider stop on the daily time frame.
For now, I’ll sit this one out. Happy with my efforts this far.
Further Reading
Sell Oil From a Pin Bar At Resistence
The price in oil created a pin bar rejecting resistance at $61.83 creating an opportunity for a sell trade. Entry at $61.15 with stop at $62 and take profit at $57.85 for just over 3:1 reward. Happy Trading.
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Sell Trade on the EURUSD
Sell Trade placed on the EURUSD pair
Short at 1.05673
Stop: 1.067
TP: 1.0348
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Shorting NZDUSD on a retrace to the 21 day ema
We’re grateful to have a trending market like this one, the NZDUSD to learn trading profitably because this market faithful to the downtrend at almost every opportunity it get’s to retrace to the 8 or 21 day ema. In this post I document taking a blin…
Sell Trade on the EURUSD Pair As Prices Breaks Monday's Low
I’ve placed a sell trade on the EURUSD pair, a signal formed on this pair as per the mentorship program I follow. I got in when the price broke Monday’s low at a price of 1.07078. Stoploss is well above the support turn resistance (1.07027) level at …
