This is just the update from yesterday post about AUDNZD buy trade plan.
This time i found really good entry point, risk and reward is superb.
So My plan is entering at the right shoulder of head and shoulder pattern, this is just not me, usualy i'm waiting for breaking out before the entry, but this time i decide to just enter at the right shoulder with the stoploss several pips below the head.
Anyway i deciding to just entering without waiting the price to breaking out is because i don't have much time right now to keep in check the chart.
And since it is out of my usual trade strategy, i just risk around 0.5% of my account. and i suggest you do the same since the reward is pretty good.
But Please feel free to use your own method and strategy. this is just my analysis and hope useful for all of traders
Good Luck and Trade Wisely
just an update for this trade, as stated before when the price reach resistance area
I usualy put my stop loss on break even point.
But sometime there are some Traders that take several profit after the price reach resistance area.
But anyway this is completely depend on the Traders.
So for me i just put the stop loss into Break even point and just wait for my target getting hit or not at all.
Hope a Good Luck and always trade wisely
I'm out from this trade today, even not reach my previous trajectory target profit, but this trade still give me really good reward.
Hope you all also catch this trade
Good Luck and Keep Trade wisely