FullTimeTrader
Long

AUDNZD-great opportunity to long from 1.000

FX:AUDNZD   Australian Dollar/New Zealand Dollar
472 5 12
We are near the huge psycho level 1.000
Looking at W1 chart we have a crab pattern already completed:
snapshot


Here on D1 chart there is an AB=CD pattern near the level 1.000

Although the AUD is weak its oversold, i expect a pullback at least to target 1.

Did you trade this one?
Congrats if you did.
Reply
Yes but i closed it too early looking the price action at 4H chart, bad idea!!
Reply
IvanLabrie PRO FullTimeTrader
I decided to close 75% of all positions once I match the distance to my stop in profit, then hold a 'lottery trade' with the rest.
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FullTimeTrader IvanLabrie
Gook risk management, i prefer to open 3 positions:
1:1 i close as soon as posible, than move SL to BE
1:2 a sucessfull trade!
the third one 1:........ the lottery, or "bonus"
but this trade i didnt respect my rules, because of FEAR, i had two losing trades before
+1 Reply
IvanLabrie PRO FullTimeTrader
Yes, we MUST follow our plan no matter what.
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