One missed trade and another in the green! Not so bad, right? Here’s a quick update on my recent forex comdoll trades. Make sure you review my initial trade ideas before reading on!
After shorting AUD/CAD at .9900 a few weeks back, I was able to move my stop to entry for a breakeven trade. The pair is already trading 150 pips below my entry area anyway, and I’m actually considering adding to my position. I’ve only risked 0.5% of my account on my first short order anyway so I have room to add more. What do you think?
The technical signals seem to be lining up for a break below the short-term range just below .9800. If that happens, selling pressure could pick up and push the pair down to new lows below .9600. Fundamentals support a move lower too, as Australia’s jobs report just came in weaker than expected for January.
As for AUD/USD, well, it didn’t pull up as high as my entry area around .8000 so I might just cancel my short orders on this one. After all, price started moving south right after the jobs report was released and I think it could break below the previous lows before I can even catch the drop.
How about you? How have your forex trades been going so far? I hope y’all are doing great!
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