AUDUSD long trade on 7/2/23
Pre-Analysis
- Correlation view for both USD and AUD. It seems that AUD in strong mode while USD in weaker mode.
Entry
- Entry time 4:37pm
- Risk 0.25%
- Exit plan TP around 0.70500 (for approx. 4R profits).
- Technical note: divergence also appeared in 5 min chart (as shown in chart above).
Post Analysis
- During New York opening session I saw price reverse aggressively and decided to close.
- If I hold, price will hit my stop with full loss.
- Price did respond to upside during New York session (afternoon), but I am unable to monitor as my time here already past midnight.
- I believe the direction was right but timing not in my favor.
- Price after I scratch the trade.
