AudNzd - Looking Ahead for a Sell
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.
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Execute pending order