Stopped out of AUD/NZD at the 50% mark. From the technical view, the trade made sense because the signal was a clear rejection of a weekly level. I did have reservations since the 9/21 MA recently crossed to the bullish side. Looking back at the trade, there wasn’t anything fundamental to support the pair moving lower. My technical analysis was correct but there wasn’t much else to back up the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-07-20 03:31:00 | AUDNZD | sell | 1.06260 NZD | short |
2016-07-20 20:00:00 | AUDNZD | buy | 1.07057 NZD | 0 |
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