Looking at RSW this morning, it looked like AUD and NZD were diverging pretty strongly. I took a look at this chart, and it was pushing up and had formed a decent high base on the hourly chart and a pretty clear bull pullback on the 15 min. chart. I ran the numbers, had a better than 1.5 R:R, so I put an entry order out.
Entry – 1.07359
It ended up taking a couple of hours, but eventually price pushed up enough to trigger me into the trade.
| Entry Order Level |
|---|
| 1.07359 |
| Stop Loss Level |
| 1.071 |
| Target Level |
| 1.0778 |
Exit – 1.07086
It didn’t take very long after triggering me into the trade for price to reverse and stop me out for a loss.
