Trade entrance went great, just about 11pips of drawdown off of this entrance @ .8150. Should you test out Oanda's N/U orders, just about all the selling was cared for over .8150 so no need to average-down.
Stop is @ breakeven.
Exits are discretionary. . I'd like to hold half the position in hopes for .7700
All information found within this trade was introduced.
/ribbon
obtained some good messages out of you guys. Wanted to article and chart to reveal the possibility this trade had. Hope it opened a lot of eyes. . Even though it took a month to develop! Thread is secured as no more discussion is needed, but feel free to shoot me a PM and we can talk.
PS: Don't presume Oanda's order book is the key. . Its but a very small fraction of the market. Check on it time-to-time, jot down in which the orders are on the chart. . After a while you're going to have the ability to tell where retailers have been set by keeping up with market sentiment and in which their orders are on the charts.
Orders seen on Oanda *should* be a fractal representation of the retail orders in the market although not always. Trade smart!
Here's the Aud/Usd 4hr chart with around numbers marked where we will originally look for confluence. There are limit orders in those lines and we could assume there are sell stops under the highs because the retail market is long Aud/Usd.
Trading homework: search online to loe any order information, rumors, and important upcoming data releases for Aud and Nzd that may impact price.
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