EURAUD trading the rejection at the top of the rising wedge

EURAUD is following a rising wedge and the setup of the moving averages also show that there is an uptrend. So why am I planning a short position?
The rising wedge is still quite large and this gives the opportunity to try to find a rejection at the top of it, with a great risk to reward ratio.
Also, the moving averages are quite close to each other, so with a rejection at the top, the setup could change quite fast, so I wouldn't rely that much on that in this situation.
I structured the trade to trade the rejection at the top and also a breakout at the bottom, but I would start to take part of my profits if the price reached the bottom of the rising wedge.

การซื้อขายยังคงดำเนินอยู่:

Opened the trade after the reaction by sellers. Very good upper shadow on the rising wedge and good red candle following. Worse risk to reward ratio, but still a great one!

ความคิดเห็น:

Sorry for posting the trade with the Ichimoku, I was just checking my trades with the Ichimoku account and I forgot to switch back to Swing Trading :)

การซื้อขายยังคงดำเนินอยู่:

First take profit at 1.6280, removing 1/2 of the position with a great profit. Keeping the rest of the position to check if we have a breakout.

การซื้อขายยังคงดำเนินอยู่:

Took 1/2 of the profit and moved the stop loss at 1.6380.