Monday 6:30 AM short position progress chart here.
Up about +30 pips and initial target still +50 pips.
Alerts from MACD Histo will prompt Stop and target adjustments.
Below is Friday's chart and entry notes...
Uptrend signs of exhaustion I did wait on xing of Ichi Conversion and Base line.
Now base line is above Conversion line.
A retest up near my .9631 short entry seems underway.
Been waiting on xing of Ichi Conversion and Base line since last AUDCAD blog post, link here...
"The stalking of AUDCAD after a +96 pip 2 trade week from Sept 14th"
Bell symbols are marking where Ichimoku base and conn line have crossed.
Enough time has passed to draw a down trending channel.
Still early in this possible downturn and we want to see the new channel respected to validate the short entry.
This is Friday and no high impact events are scheduled until next Tuesday
so I am comfortable holding this over the weekend.
As before initially setting target and stop way out at 50 pips.
Will use Histogram alerts on the MACD to determine target and stop adjustments.
Time to be patient and go about my day.
Trading is very risky,
use your own judgment
and have a have a great day friends...
