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FullTimeTrader
Apr 5, 2015 3:38 PM

AUDNZD-great opportunity to long from 1.000 Long

Australian Dollar/New Zealand DollarFXCM

Description

We are near the huge psycho level 1.000
Looking at W1 chart we have a crab pattern already completed:


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.

Comments
FullTimeTrader
Yes but i closed it too early looking the price action at 4H chart, bad idea!!
IvanLabrie
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.
FullTimeTrader
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
IvanLabrie
Yes, we MUST follow our plan no matter what.
IvanLabrie
Did you trade this one?
Congrats if you did.
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