Good thing I decided to set a lower entry order for this trade, as EUR/AUD briefly touched the 1.4550 level before selling off! Think I should still add or should I just keep it safe?
In case you missed ’em, here are my original and revised trade ideas:
Forex Trade Idea: EUR/AUD Divergence Play
Forex Trade Orders: EUR/AUD Short Setup
I will be canceling my other short trade order at 1.4600 since the pair seems to have set it sights on another strong dive, with no need to pull up for a higher retracement.
I have no plans to add on the break of the previous lows just yet, although I’m maintaining my strong bearish fundamental bias for this pair. I do plan on trailing my stop by 150 pips once price tests the 1.4400 support area though!
What do you think of my plan?
Cheers,
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