AUD/NZD Forex Trade – Net +30 PIPS

This was actually two separate short trades.

The first was exited with a small loss. Looking back, it would have been nice to get short earlier on the 2nd trade.

We still netted 30 pips though.

Keep in mind the spread has been about 5 pips.

From a price action perspective we might say there was a sort of failed breakout.

Then the price fell to an area where there happens to be a 50 period simple moving average.

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