AUD/USD broke up from its symmetrical triangle! What's more, it only went a few pips above my stop loss before it went back down! Is a tight stop loss my only problem, or am I doing something else wrong? Help!
A few days ago I shorted this pair because of the symmetrical triangle on the 4-hour chart, as well as the grim reports from both New Zealand and Australia. Too bad that markets weren't dancing to the same beat!
Market sentiment began to turn around just as I entered the trade, with mixed reports in the U.S. sparking crazy waves of anti-dollar vibes. While U.S jobless claims improved to 391,000 last week,GDP in the U.S. also dropped to 2.8% in the fourth quarter. The dollar bears were practically raising their glasses! Oh wait, that was Pink's song...
A few days ago I shorted this pair because of the symmetrical triangle on the 4-hour chart, as well as the grim reports from both New Zealand and Australia. Too bad that markets weren't dancing to the same beat!
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