I was stunned by how quickly the AUD collapsed this morning, and the take profit stop that I set on my open trade was taken out with ease at .6955. We now see that the pair has fallen back into its long term descending channel.
We are now safe to open a new short with a stop of .69820. But if you are going to leave your position open overnight for goodness sake set a deep TP!
We are now safe to open a new short with a stop of .69820. But if you are going to leave your position open overnight for goodness sake set a deep TP!