From TradingView · · 1m 20s
A short on the Aussie, but only from higher up
A trader sets a sell limit on AUDUSD and waits for price to climb into the zone before the short goes live.
In brief
A trader sets a sell limit on AUDUSD and waits for price to climb into the zone before the short goes live. The waiting is the trade. If price never reaches the level, there is nothing to do. Originally reported by TradingView.
Short the Aussie dollar
bradrhoan posted a sell limit on AUDUSD for the coming week, positioned for the pair to turn lower against the U.S. dollar.
Up first, then down
The plan is not to sell at current price. It wants one more push higher into a marked area, and only then a move back down.
“i want to see a continuation to the upside to hit that area of interest before selling towards the downside.”
The level is the trigger
An area of interest sits above the market. Price reaching it is what turns this from a chart opinion into an actual position.
A limit order, not market
A sell limit rests above price and fills only if price trades up into it. The order waits, so the trader does not have to sit at the screen.
No touch, no trade
If AUDUSD never climbs into the zone, the order never fills and the idea just expires. Setting it in advance makes that outcome painless.
One read, not advice
TradingView attaches a disclaimer for a reason. This is a single trader's trend analysis, not a recommendation, and the sizing is on you.
What it means
The waiting is the trade. If price never reaches the level, there is nothing to do.
