growthbank

[AUDUSD Backtest] Buy Idea

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
I am currently backtesting this losing AUDUSD trade to identify what was done right and what I could have been done better. Overall I had the structure of the trade perfect down to the take profit, but the issue with this trade was the stop loss was too tight. I understand the uses of supply and demand zones now, so I will be less likely to make this mistake again in the future. If I had properly created a 15 min demand zone, the trade would have gotten a sniped entry and I would have made a great amount of money. Unfortunately I made a stop loss which was 6 pips too tight and it stopped out.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.