T2W Trading Community

So now what, where do we take profits? In this case, given that the trend is up on the time frame that we used for execution there is not the luxury of letting the trade ride. In this instance, the logical exit points are seen at either the 50% fib retracement at 115.12 or the swing high at 115.24. These levels are easily achieved.

AUD/NZD Short
This cross has been ‘in play’ this year and continues to be a cross I have relied upon frequently. In this scenario we have a situation where the daily chart suggests a possible short, but does not provide all the points on the checklist for a high probability short.

• Wave 4 completion is confirmed by a stochastic cross lower and a trend-line break
• Price targets are calculated by a simple fibonacci extension of wave 3 using a 1.25 and 1.50 setting