What is my entry criteria for a AUDUSD LONG?
What is my entry criteria for a AUDUSD LONG?
Reason:
We have broken previous structure indicating a possible reversal in the bearish trend
We have already completed a three point move that broke the previous bearish structure.
This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower
Confluence: (Use callout on the fave tool bar to make note and point)
RSI is not currently oversold but is hovering around 27
Double bottom was my entry for the long
10EMA is above the 50 on the daily
Entry:
Market order
Stops:
1 ATR below the low of the double bottom
Giving us a nice risk reward of 2.8
Targets:
Target 1: H4 Highest candle close
Target 2: Trail based on structure if we continue higher
As always good luck in the markets,
TradeEasy.
Reason:
We have broken previous structure indicating a possible reversal in the bearish trend
We have already completed a three point move that broke the previous bearish structure.
This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower
Confluence: (Use callout on the fave tool bar to make note and point)
RSI is not currently oversold but is hovering around 27
Double bottom was my entry for the long
10EMA is above the 50 on the daily
Entry:
Market order
Stops:
1 ATR below the low of the double bottom
Giving us a nice risk reward of 2.8
Targets:
Target 1: H4 Highest candle close
Target 2: Trail based on structure if we continue higher
As always good luck in the markets,
TradeEasy.
Trade closed: stop reached