AudNzd - Looking Ahead for a Sell
Updated
What is going on?
I like this trade because the wave has not form just yet on this strong impulse upward. So we can take advantage of a strong reversal approaching.
Ideal Trade
Sell Stop @ 1.05500
TP @ 1.04500 (1000 mpips)
Sell Limit @ 1.06250
New Tp @ 1.05000 (1250 mpips)
No SL- If we do continue up we should be fine to place a bigger trade and recover on the floating negatives later, no worries.
You can always risk higher but be careful the market has ways to knock you off.
I like this trade because the wave has not form just yet on this strong impulse upward. So we can take advantage of a strong reversal approaching.
Ideal Trade
Sell Stop @ 1.05500
TP @ 1.04500 (1000 mpips)
Sell Limit @ 1.06250
New Tp @ 1.05000 (1250 mpips)
No SL- If we do continue up we should be fine to place a bigger trade and recover on the floating negatives later, no worries.
You can always risk higher but be careful the market has ways to knock you off.
Note
Execute pending order
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