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EURAUD trading the rejection at the top of the rising wedge

업데이트됨

EURAUD is following a rising wedge and the setup of the moving averages also show that there is an uptrend. So why am I planning a short position?
The rising wedge is still quite large and this gives the opportunity to try to find a rejection at the top of it, with a great risk to reward ratio.
Also, the moving averages are quite close to each other, so with a rejection at the top, the setup could change quite fast, so I wouldn't rely that much on that in this situation.
I structured the trade to trade the rejection at the top and also a breakout at the bottom, but I would start to take part of my profits if the price reached the bottom of the rising wedge.

액티브 트레이드

Opened the trade after the reaction by sellers. Very good upper shadow on the rising wedge and good red candle following. Worse risk to reward ratio, but still a great one!

노트

Sorry for posting the trade with the Ichimoku, I was just checking my trades with the Ichimoku account and I forgot to switch back to Swing Trading :)

액티브 트레이드

First take profit at 1.6280, removing 1/2 of the position with a great profit. Keeping the rest of the position to check if we have a breakout.

액티브 트레이드

Took 1/2 of the profit and moved the stop loss at 1.6380.