AUD/USD has been forming a pennant in recent weeks. Yesterday, price reached the upper line of the pennant, and today, it hung around that area consolidating. I'm going to place a limit sell order below today's low to catch it if it starts heading back towards support.
- Order = Sell Limit
- Limit Price = 0.93270 (10 pips below today's low)
- Stop Loss = 0.94240 (10 pips above yesterday's high)
- 1st Profit Target = 0.92785 (1/2R)
- 2nd Profit Target = 0.92300 (1R)
- 3rd Profit Target = Let it ride
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