Remember Risk management is more important than anything else. Trading is about long term gains so stay consistent.
Price has reached a Support level.
The reason for the wide SL is to avoid the market going insane and closing the trading in a loss. If the market is going the opposite direction, we will close it before hitting the SL.
TP is at a realistic level...
FX:AUDUSD Hello traders, a simple idea on AUD/USD.
As you can see, the trendline has acted a solid support for some time. I expect it to hold one more time and we will have a buy setup. Stop loss should be below the trendline. I'll keep this updated.
This is a counter trend trade but GBP has been selling heavily and may need to correct to the upside for a time. This channel presents a good opportunity to do so. Lets see if it play out. Happy trading
