An AUD/USD Short Inspired by Elliott Wave
This short AUDUSD trade would be taken using the following parameters:
Trade: Short half of a position at 0.9065, and short another half position at 0.9105
Stop: Place a stop loss at 0.91500
Take Profit: Take half profits at 0.8950 and let the remaining position run until 0.8856
Also read: Post-NFP Short Opportunity in AUD/USD
By Todd Gordon, founder, TradingAnalysis.com
Receive three free months of premium trade signals and analysis by visiting TradingAnalysis.com.
Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.