Patrick's Outlook 7/14/21
Patrick put a short order out for AUD/CHF due to the daily being in a grinding downtrend and recently showing a sharp momentum further to the downside. The bounce had been hesitant and the 4hr was showing consolidation and buyers didn't seem convinced to get into the market.
Patrick's Expectation:
AUD/CHF - Daily pullback with 4hr breakdown trigger
SELL STOP: 0.682, SL: 0.68675, TP: 1/2 off at previous 4hr pivot (~0.6797);
Trail remainder on daily price action (daily bar-by-bar if momentum shows or on significant pivots).
Patrick's Trade 7/19/21
Patrick took 1/2 of his position off as seen below.
He decided to hold for a bit more than the originally intended target because price was showing such nice follow through to the downside.He trailed the remaining 1/2 on the daily bar-by-bar. So hypothetically if each day were to close like these do, he would just trail his stop to a few pips above each day's high.
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