Hello everyone.
I want to share with you my EURAUD short trade which has taken off nicely. This week is pretty good even though it's a bit slow due to not many high impact news releases. The reason i took this trade is very simple, when you look at daily chart you can see a nice downtrend with lower low and lower high and the price stopped at horizontal also trendline resistance. Potential target is at support at the previous structure low giving me 1:3 risk to reward ratio and potentially could break that support and create new low to complete the downtrend structure. As we never know what the market will do, this is just a speculation. The importance here is that, this trade won't be a loser. Be prepared for the worse and hope for the best.
Just to give you a tip: Never let your winners turn into losers. As they say "cut your losers and let your profits run".
