Attached is a daily chart of ADZ2.
Yesterdays weak close triggered a sell signal in Aussie Dollar. Stronger than expected economic data from Australia has made that a painful position at the moment. We would now set
our stops at 2 separate levels. If ADZ2 trades above 103.00 we would stop out of half of position and if ADZ2 trades above 103.40 we would stop out of balance....
A side note is that we like to see a little time above the stop level before we pull the trigger in order to avoid an algo head fake where stop hunting programs attemp to flush weaker hands..