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Australian Dollar / U.S. Dollar

Counter Trend Trade Idea for AUD H4

By yewsean
Updated
A consolidation pattern , pennet has formed. The bet is for a continuation to go up or a reversal to go down. It looks like a top of the H4 upwave. Hence a bet of reversal could be the scenario to play out. A counter trend short idea is developed with a potential less than 45pips.
Comment
Need to trade with smaller size than usual becos it is a counter trend trade.
Trade active
short at 0.7544. SL 0.7575 Risk 31 pips
Trade closed: target reached
Loss 31pips. It looks like breaking towards the up side.

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