AUDUSD short trade

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The trade i gave in the channel, continuing here.

Nota

Can try a small short here, get in 30% here with that stop level and make it 100% if that green support breaks. Don't get in too heavy here because that is asking for troubles. So a tiny loss for a potential big win

Nota

Close half at the first yellow circle, and trail stop the rest for the second target

Nota

Closing in on the target but from the looks of it, it might make another swing up again. So i suggest to take some profit here or use that red resistance as a stop level.
If you do take (some) profit here and we drop again and break the green support, we could open that position again.

Nota

So first target got hit and i hope you took some profit here. Now we can do 2 things with the remaining position.

Move the stop to just above the green level or move the stop to the red level. Use this distance for a trailing stop loss if we start to drop next week.

Nota

Second chance to take profit, i would take at least half or use that first red zone. Or take profit 50% now and use one of those 2 red stops for the rest. The bigger picture is most probably bullish, so i am not expecting too much.

Nota

I would close out 50% of the remaining position here, and use a very tight trailing stop from and just let it ride. On the right we can see it's very close at the support line again, but a trail stop might be worth it, in case that trend line breaks and we drop even more

Nota

I would just take the profits now, could be moving up now. target has been reached as well. It has been been an easy and fun ride :)

botje11

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