Roncriss
Long

Is AUDUSD Still Bullish?

FX:AUDUSD   Australian Dollar / U.S. Dollar
142 9 4
I Think AUDUSD             is Bullish in a channel so am looking for pullback or consolidation back to bottom of the channel and BUY.


My buy setup will be around 0.70426 where i believe there is a support
Comment: Updated BUY order

snapshot
Can you wait until it reaches your entry level to publish your chart? That would be easier :-)
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What about a stop loss? 1/2 the distance to your target?
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Roncriss timwest
Here is buy target and stop loo
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Roncriss Roncriss
snapshot
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If you used 1/2 the distance to your target, you'd have made the profit. Ugh
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Roncriss timwest
Okay,Thanks
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timwest PRO Roncriss
If you put your stop too close, like that, it will get stopped out often. If you use a wide stop you stand a much better chance. The rules for 3 times the stop are BS. Those are just manufactured numbers that have no base in reality.
+1 Reply
And you put 5.79 reward/risk ratio in that trade setup. That is way too much upside potential for downside risk. If you were right 30% of the time, you'd own the world in no time.
+2 Reply
Roncriss timwest
That was a worse R:R, I will work on risk/reward ration.I appreciate your advice
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