we see again a Weekly pin bar at a swing high, plus d1 shows pretty much a bearish engulfing ( by open and close. On engulfing i play the low of the previous bar as the entry point and then h1 for entry. I like the high time frame bias, ultimately would like more confluence with fibs or ATR but not here at the moment. Last time we had this sort of w1 and d1 bias, this sort of trade took 130 pips in profit so I'm keen to use this sort of probability again.
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Looking to RBA minutes to spur this lower
Trade stängt: Stopp nått
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didn't have TP on my order - that was stupid! should have been a winner for about 60 pips.
This has gone into profit so have shifted my stop down to reduce risk against the RBA minutes, Im looking for some negativity as the interest rate decision was t drop rates this should fuel price lower. Im holding over night so its a bit risky on news..