AUS200 short

19 feb

I opened a short position yesterday based on 4H and daily chart.   

My reasoning is as follows:

Daily 
1) The price broked above the previous high (8525),  failed it hold, and dropped and closed below the previous higher high.  

2) It moved and closed below the ascending trendline.  

3) All momentum indicators are now moving to the downside. 

4H
1) The candles consolidated below the ascending treandine and failing to move above the line.

2)The price broked beow Fib 0.238.

3)Both MACD and RSI entered the bear territory.


Entry - 8483
S/L - 8580
Target - 8256
Risk:Reward - 1:2.65

20 feb

Trade attivo

4H candles broke, retested and closed below the support line at 8400 area (the previous lower high in the daily chart). The price is also clearly moved below EMA 200 and EMA 21 is rolling down.  Momentum indicators are approaching the oversold territory in 4H, so I anticipate the price to pull back. 

I am going to add a short position if the following conditions are met:
1) the price revisits the former support zone (8400), retests and closes below it.
2) retests EMA 200 and closes below it
3) momentum indicators are moving to the downside

21 feb

Trade chiuso: obiettivo raggiunto

added more positions
moved stop loss to the entry price for the first position