AUD/USD has been trending strongly down on the daily chart.  The pair has been moving down quickly, but today we got a pullback.  Since the daily is showing a pullback, I'm looking at the 4 hour chart for a good entry.  We're approaching a trendline on the 4 hour chart, and the current candle has made a new low, so I'm going to look to enter if the low is broken.  My stoploss will be a few pips above the last candle's high.  I'll move my stop to break-even as soon as the trade moves 1R in my favor, and after that, I'll trail my stop above swing highs.

The important thing to remember is that I'm trading in the direction of the prevailing trend on the daily chart, so the odds are with me.  Also, if I should get stopped out before my trade moves into profit, I'll employ the Jacko's Anti-Hedge method (see prior post), to get back in the trade if the trend resumes.

• Sell Stop Entry - 0.6377
• Initial Stop Loss - 0.6535 (158 pips)