Reason/Setup:
This trade is signaled based on the OzFX setup on 4 hour chart. We have seen some consistent price action down on this pair on good volume. And the stoch has now crossed the 0 line, and both the AC & AO are showing multiple red bars. Will this trend continue?
BTW, this trade was marked as a long on the OzFX forum. The daily chart does show an upward trend, but its coming to an end. I feel its the start of a strong down trend.
Trade Details:
Date: May 11 2008, 11:30 pm
Entry: 0.78932
Lots: 5
Stop: 0.79329
Target: 0.78532
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