Nov 10

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+20 pips short on AUDUSD

Managed to take only my second trade of the week this morning at 10:45 short on the AUDUSD for +20pips and almost 1%.

The setup is quite straightforward but had to be careful/patient with my entry to not get whipsawed in and then out. The setup was very technical and had 3 good reasons to take the trade

1) Price reacted strongly twice to Daily Pivot from below which in turn created a

2) Double Top below Daily Pivot

3)1-2-3 Candle Pattern over the weekly pivot and lower channel trend line

All on the chart for those technical amongst you !

Simple Technicals

About time I had an afternoon off, it’s been a tough 3 days.


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Permanent link to this article: http://intradayforextrading.co.uk/2010/11/10/20-pips-short-on-audusd/

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