#AUDNZD: Monitoring For Long Confirmation - Update #forex
Update: The price reached near first target then reversed, so i closed position near break-even
Profit/loss= 0
This is a follow-up on my previous idea, where i was looking for my long signal confirmation through a break above 1.0395-1.0400 Resistance level, indeed the price managed to break and hold above it, so i have initiated a buy limit order at 1.0395. For the reasoning behind my trade, check the previous idea on the related links below..
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
Profit/loss= 0
This is a follow-up on my previous idea, where i was looking for my long signal confirmation through a break above 1.0395-1.0400 Resistance level, indeed the price managed to break and hold above it, so i have initiated a buy limit order at 1.0395. For the reasoning behind my trade, check the previous idea on the related links below..
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
------------------------------------------------------------------------------------------------------------------------------------------------------------
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
