Trade#8 (from the Dailyfx board), not to be confused with Driver 8, is AUD/USD Short…..Entry Made and Update

Got the limit hit so it’s in for 1 unit Got a little positive slippage and entered at 0615(5). Another two will be added on the lower channel line break with stops on the added units to be placed over the recent high, say about 0627 if that one is the peak. The new stop will be determined by the breaking of the lower orange channel line. Once that is broken, use the latest peak as the stop level. Just add 10pips for a cushion. May as well drop the first unit stops down there too. If this was the top of this move then that should be plenty of space to let price action (P/A) move around. And if it wasn’t, then the lowered stop levels should keep the account loses to a minimal amount.

Just bear in mind that this pig has the potential to fly. As in upwards. Keep the loses short and let the winners run!

P.S. As I’m about to post this the two additional units fired off, in at 0580 and 0582(3).
Updated A/U chart:
chart

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