The third Aussie trade this month. But hey, I’ll trade it 100 times if I can make money.
1:52 ET – L(5) AUD/USD @ 8608, Stop @ 8589, Target 4 @ 8629, TS 1 @ 25 pips. Bouncing off recent lows late in Asian session, not likely to start a new trend. The overall sentiment towards the USD is negative, so I think I want to stick to the long side for now.
Pivots
R2 8672
M4 8659
R1 8645
M3 8629
PIVOT 8613
M2 8600
S1 8586
M1 8570
S2 8554
5:10 ET – Hit limit on 4 lots, closed @ 8629. +21 x 4 = +84 pips
13:03 ET – Closed last lot manually @ 8644, looked toppy. +36 pips
Totals
First target: +21 X 4 = +84 pips
Last lot: +36 pips
+120 pips (+$12.00)
15 min
4 hr – Note the major MACD divergence. Probably overridden by the weakness in the dollar.
Followup: Good trade, but I should have kept that last lot a little longer. I was in at a good chart point, so I could have risked more on the last lot.
If you enjoyed this article, you might also like:
Category: 
Tags: 
