Yesterday the AUD found a trading channel even do I am bearish orientated on this one... I took 2 bullish
winners on the rejection of the lower trend line. None of my bearish entry levels where reached which gave me the impression that the bears are a bit triggery on the fingers. Right now I took another bullish entry based on price action. It's also a back testing trade because I'm looking for a more bullseye entry and it seems that the moving averages high and low helps me identify structure support levels better. I think there are some good study material in here and I will use it to fine tune my entries in the future. it's a bit messy but notice the smaller marked areas which connects with the moving averages. Strategy is the same as previous entry. At profit target 1 I'll halve my position and move stops to break even.
If it stops me out... well too bad and too the next trade... That's all for friday....
winners on the rejection of the lower trend line. None of my bearish entry levels where reached which gave me the impression that the bears are a bit triggery on the fingers. Right now I took another bullish entry based on price action. It's also a back testing trade because I'm looking for a more bullseye entry and it seems that the moving averages high and low helps me identify structure support levels better. I think there are some good study material in here and I will use it to fine tune my entries in the future. it's a bit messy but notice the smaller marked areas which connects with the moving averages. Strategy is the same as previous entry. At profit target 1 I'll halve my position and move stops to break even.
If it stops me out... well too bad and too the next trade... That's all for friday....