Possible Long Position for AUD/USD_Trade Plan 2017.06.11

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
19 0

Overall trend in D1 and H1 are both up with price holding up above MA200 and major D1 support area 0.75120-0.75221.

Trade Plan 1:
If price pull back to the confluence of support area around psychological level 0.75000, long the market.
With Stop Loss 25 pips and Target Profit 55 pips, the potential trade offers 2.20 Risk-To-Reward Ratio.
As a second target, next H1 resistance area 0.75956-0.76083 can be an alternative.
With second Target Profit 85 pips, the trade may offers 3.40 Risk-To-Reward Ratio.

Trade Plan 2:
Currently, price is moving sideways and forming Falling Wedge pattern.
If price breaks out this pattern to the upside, long the market to follow the uptrend continuation.
With Stop Loss 25 pips and Target Profit 65 pips, the potential trade offers 2.60 Risk-To-Reward Ratio.
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