Trade Forex Idea - Sell AUDUSD - Nov. 27, 2013

I am going to add to my sell position if I see a breakout 0.91000 in AUDUSD

Here is the chart:

Okay. I Added and today Dec 4, 2013 I took out of the table half of the first position (+281 pips).
I have also moved the Stop Loss at breakeven, looking to exit the second half at around 8.9000 - 8.8450 for about 450 pips more.

TRADE UPDATE: Dec 18th, 2013

I am still in that AUDUSD Sell trade. However, One of my 2 positions just closed  with a total gain of +240 pips.

The other position is at +440 pips and if the price closes below support (the red line, I may add a small new position), and I definitelly move my existing position's Stop Loss above the last high (around 0.9000) to book some more pips.

I am also looking at .618 Fibonacci Expansion , which would be the Profit Target for my open position.(the Blue line). But I may also, just move the stop lower and take what the market is willing to give me on this trade. (remember I already took half of profit at about +280 pips) and another full trade at 240 pips today. Not bad.

Let's see what the market is willing to give... Another at least 1000 pips in one trade? :))

Screenshot below:

 

TRADE UPDATE: I still have that portion of 1/4 running. Currently at +500pips. hopefully i get at least +1,000 pips. It is a free risk trade as I locked in 200 pips.

 

If you Liked my blog, please do not hesitate to share this with your friends on Facebook, Twitter, G+.

Thank you.

Adrian Todoran FX Trader