An Example of a Short-Term Trend #WallabyTrade:
The kind of trade you really want with the Wallaby is one that goes with the recent trend – and by “trend,” I mean super most obvious recent movement in the financial instrument you’re trading.
On the EUR/USD today, in the midst of the pair’s 48-hour collapse, it set up a really nice Bearish Divergence trade. I didn’t take it (I was asleep) but these are the kinds of trades that I live to take. You can see the stop loss stays tight – we are on the 1 minute chart here – and the profit target can stay open. A trailing stop or a move to break even after 15 pips is perfectly suitable here.
