AUDUSD broke above major trendline

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             has turned bullish by breaking above the major bearish trendline . It is set to fly towards 0.76195. Enter trade with momentum and priceaction.
Trade closed: target reached: 120 pips !!
Daniyal, don't you set SL. Before going to 0.76195 it made 90 pips down. Ideally I'd have my SL triggered at 0.7440.
Daniel-Malik zhivankin
my SL was 0.7403 . Just down to previous low , so yes my sl wont hit
zhivankin Daniel-Malik
I see, thanks! It could be useful if you publish SL level with your ideas.
Wish you successful week!
Daniel-Malik zhivankin
Thanks !! actually every trader has his own amount of risk so can settle the stop loss according to it
This ideia is terrific, but the market was shaked today, so, i gonna wait the next hour to take a decision. Congratulations.
+1 Reply
Daniel-Malik BrunoSalles
Thanks ! you can check other ideas if you want to trade now
why do you say it is a major trendline? StochRSI is highly over baught. The red trend line your drew , pierced through price - whichh invalidates it being a trend line!! The down Fib you drew, price retraced from .618 level, which suggests price is going to reach 1.618 fib extension.
Daniel-Malik shomonrobie
You may please press the Play button and see all the priceaction around the trend line and respecting fib levels as support and ressistance. Sometimes, we ahve to draw things not in so harmony with conventional emthods to catch the move.
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