$100k Challenge - AUDNZD Long - E1 T2
Hey everyone!
After some time off the charts, we're back with the funded account challenge!
TL; DR for those new to the series:
I started a funded account challenge in 2023, which had a bumpy start with an excellent recovery. We're currently sitting at around -3% and the target is 10%.
I noticed my feedback cycle was too slow as I was trading from the daily/H4 timeframes, so, starting season two of the challenge, I'm trading out of the H4/H1 timeframes to increase the feedback loop so I can identify quicker any mistakes, as I've been away from manual trading for quite a while.
We started season two with a long trade. The market has found support after a long down-trend; we did have a break of a bearish trendline; however, the market kept pushing to the downside to fail to make new lows finally.
This is the opportunity I'm looking for, as we had a recent failed break in the support area, and the price action currently shows a solid bullish presence, leaving a morning star pattern right at the support zone.
Regarding targets, I'm aiming for the closest resistance at the 1.0700 area, and as usual, I'm leaving the second half of the trade open since I consider that if the market breaks that resistance, we're in for quite a long bullish ride.
Remember to follow me so you can stay updated with the challenge's progress! ;)
That's it for today.
Until the next trade!
After some time off the charts, we're back with the funded account challenge!
TL; DR for those new to the series:
I started a funded account challenge in 2023, which had a bumpy start with an excellent recovery. We're currently sitting at around -3% and the target is 10%.
I noticed my feedback cycle was too slow as I was trading from the daily/H4 timeframes, so, starting season two of the challenge, I'm trading out of the H4/H1 timeframes to increase the feedback loop so I can identify quicker any mistakes, as I've been away from manual trading for quite a while.
We started season two with a long trade. The market has found support after a long down-trend; we did have a break of a bearish trendline; however, the market kept pushing to the downside to fail to make new lows finally.
This is the opportunity I'm looking for, as we had a recent failed break in the support area, and the price action currently shows a solid bullish presence, leaving a morning star pattern right at the support zone.
Regarding targets, I'm aiming for the closest resistance at the 1.0700 area, and as usual, I'm leaving the second half of the trade open since I consider that if the market breaks that resistance, we're in for quite a long bullish ride.
Remember to follow me so you can stay updated with the challenge's progress! ;)
That's it for today.
Until the next trade!
