23 Dec EUR AUD Breaks All Time Low – Swing Short Entry
This is not my normal style of trading but is a valid method of trading so I’ve decided to give the trade a try and share it here.
EUR:AUD broke it’s all time low this Week so I shorted it on an intraday retrace and will see how it pans out. Ideally I’m looking for it to capitulate over the coming weeks but as the risk reward is not one I’m overly comfortable with I’ll probably close the trade on any strength and 2 or more green daily closes above 129.30
If applying a measured target and stop loss placement above the previous swing high we’d probably be looking at something like this, however, for this particular trade I wont allow myself to get squeezed by a rally all the way back up there: