Trade example on 16 Sept 2021, AUDNZD short trade base on cheese trade.
Pre-Analysis:-
Session Breaks Strength:- AUDNZD (-2 / +6)
Fundamental:- News event for NZD show strength, GDP q/q (2.8% / 1.1% / 1.4%). For AUD news show weakness.
Trading Plan:-
Trade Classification:- A trade
- Wait for digestion, inability for price to go up & finally range that forming close to market opening Frankfurt / London.
- Reminder, reading digestion must from M15 timeframe.
Post Analysis:-
- Max profit 2.33R
- Trade smoothly went to intended target of 2R.
- As a reminder please make prep sharp, at least 30 minute before Frankfurt opening.