Home > Uncategorized > Trade 2 (+16pips)

Trade 2 (+16pips)

Trade 2

5 min chart (signal)

Price bounced off EMA144. EMA144 can also be a moving S/R line. Shorted for TP of 16 pips (previous low as per blue line) and SL of 12 pips (swing high as per orange line).

Trendline is down, price still following trendline. MACD declining and Stochastics entering oversold region.

30 min chart (trend bias)

Notice EMA 5/13 crossing the long EMAs 62/144 and the critical SMA200. Does this signal a trend reversal/ short term retracement for the AUDUSD???

Trade review:

Overall R:R is more than 1. This trade is definitely more technically aligned in terms of 5 and 30 min charts. Way to go!

Tags: ,
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: