S1S – Short AUDUSD Dec11 – short at 9107

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Selling weakness/buying neutrality (not optimal strength vs weakness) – however there has been a nice slow pullback of around 150-160 pips, price rejected a previous high and did not get to the overhead supply zone (in blue).  Note the Australian employment report will be released overnight.

Notice my detailed planning of how to manage the trade – when to take money off the table, when to move the stops.  This comes on the back of the experience from all the JBT trades – although the JBT are on the lower 15M timeframe, the principles are the same.

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2 Responses to S1S – Short AUDUSD Dec11 – short at 9107

  1. Wed night (10pm): Exited 1/2 position at +67 pips, at 9040. Moved stop to 9088, ahead of the Aussie employment report. Price came as high as 9083 (phew!!).
    Thu (7.30pm): Remaining 1/2 position is now at +165 pips, at 8940 – thus far price has reached a low of 8915 (+190 pips). Moved stop to 9020 (above the previous 4H support zone at 9020).

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  2. Final result for the position
    Short @ 9107 (65 pip stop)

    Covered 1/2 @ 9040 (+67)
    Covered 1/6 @ 8903 (+204)
    Covered 1/6 @ 8887 (+220) – immediately prior to FOMC
    Covered 1/6 @ 8880 (+227)- immediately after FOMC

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