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Anyone watching AUD/CAD?


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OK OK. No one is watching AUD/CAD. Funny goings on though. I shorted it late last night and the price went down significantly before returning close to the cloud. My 9120 limit was triggered so I'm now out of the trade and thinking of shorting again. Both the AUD and NZD had these long wicks. Any ideas why? I'm solely TA trading but interested to know.

AUD_CAD_20190103_19.12.png

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Thanks @TrendFollower. This was a funny one for me. I will only short when price falls and closes below the cloud and now thanks to @elle, also below the 50 and 150 EMA. The only difference this time, is that I broke my rules by not waiting for a close of candle. I still shorted though and it hit my limit for a profit this time. My stop would have been above the cloud but this did not come into play. The candle has now closed below with a very small candle going on today with limited movement. However, whilst my trading plan would say short this again, I am now wary of the trade due to the spike down then up. I appreciate your comments and am quite happy to receive them all. Thank you.

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14 hours ago, Nelsy-Boy said:

OK OK. No one is watching AUD/CAD. Funny goings on though. I shorted it late last night and the price went down significantly before returning close to the cloud. My 9120 limit was triggered so I'm now out of the trade and thinking of shorting again. Both the AUD and NZD had these long wicks. Any ideas why? I'm solely TA trading but interested to know.

AUD_CAD_20190103_19.12.png

about 380 odd points profit?

Nice to get a good trade on over the spike. But unfortunately from an analysis point of view because this is a one off flash, it may be worth removing from your analysis. (or put on the same trade again if you think it could remain going down)

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