Australian Dollar: 2618 Trade After Bearish AB=CD/Double Top

8 juin 2017

A bearish AB=CD pattern completed and seems to be respected with price making a double top. I just entered short @ 0.7459 (this chart is delayed but it is the current market price), which is the .618 retracement of the drop since the double top. My stop is 0.7567. Wish me luck!

8 juin 2017

Note

I am currently up 1 pip on this trade. I have now found two more bearish set-ups on Australian Dollar Futures: a much larger bearish 2618, and a large bearish Bat.

I am deciding what I want to do about this, as this pattern is still valid but I do tend to give weight towards larger patterns. What would you do?

8 juin 2017

Trade fermée manuellement

Closed the trade at 0.7546 in the hopes of entering in on one of the larger patterns. The first area I will watch is 0.7580 for the bearish 2618 set-up.