Last 16 September the EUR/AUD tested the down trend line. I thought the price movement was a false penetration.
Today the currency pair has closed above the down trend line with a long-legged doji (which is a outside bar too). A sign of indecision. Technically the trend line is now pierced, but the price movement hasn’t still violated the static resistance. Coherently with my trading idea (that I quote:”I sell at resistance and buy at support”), today I’ve doubled my short position in the EUR/AUD currency pair. In other words, on 16 September I sold the dynamic resistance (the down trend channel), today I’ve sold the static resistance. Suicidal trading …
The Happy Trader 