AUD set up well after an extended Asian session. This is such a favourite trade setup of mine that I completely missed the GBP trade – oh well.
The AUD was unable to climb above its Asian session highs for more than a pip or two and began to fade. With a stop above the Asian session high and a greater that 3:1 Reward to Risk to our Target 2, we entered and took some heat for over an hour. Price slowly rolled over and we had hoped to get rewarded at least to the Asian session low, before the UK close. Price moved down, but as we tightened our “take profit” we ended up being taken out of the market for 30 pips.
Overall a great week.
Enjoy your weekend!