EuroMotif

AUDUSD long scalp Idea: AU up a little more?

FX:AUDUSD   Australian Dollar / U.S. Dollar
Quick scalp attempt on 15 min chart.
Comment: No trade yet, watching this zone closely. EXACT bounce from one of the boundaries would be first sign
Comment: It just sitting exactly on the line would have liked to have seen a bounce/pin , but watching. Low liquidity rest of this week, trading with micro lot sizes mostly out of boredom.
Comment: Good enough, long fired
Comment: My stop loss and take profit settings
Comment: Kiwi is holding the Aussi back If it does not bounce soon, I will cut my AU long off, cuz kiwi might drag it down here pretty soon
Comment: Kiwi looks dead. I have cut my AU lose at Break Even for now, might enter again if NU shows signs of life
Comment: Here is the ''EXACT'' reactions I like to see
Comment: Lol, zooming in to the 1 minute chart (microscope) There is not doubt this zone and its boundaries are relavent
Comment: If Kiwi weren't so Krippled, I would be looking for AU to do something like this
Comment: Looking good again. and kiwi might have landed on two feet. Watching closely again
Comment: Hoping Kiwi stops puking when it reaches this 4.236. Aussi really wants to go but this flightless bird (NU) is definitely holding down AU rn.
Comment: Finally, Kiwi may have found bottom at the 4. 0 fib, watching for uptrend signs now on the 5 min
Comment: Pulled the trigger again
Comment: Here we are at that line again
Comment: Moves Stop Loss to Break Even at this stage
Comment: Argh, stepped away and BE stop was hit.
Oh well, strike two, but no money lost.
Comment: Third time might be the charm? entered again
Comment: Stop loss just under the .236 fib now
Comment: Stop hit with minor profit. argh, if I wasnt so bored I would not be trading rn
Comment: One last try looks like possible longs wipe out before making the real move up, or I could be wrong :( risking the minor profit from last scalp
Comment: I screwed up on this one. I usually plot TWO possible entry zones and 2 possible exits. In this case, I forgot to show the second entry option at the 1.1618 like this I know, this will see like in hingsight. But anybody familiar with my Ideas will see how I usually plot more than on option.
Comment: AU still playing with this fib. and I sitll think a run at .73 is possible but not trading due to US holiday and no liquidy in markets
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Comments

You are nearly perfect in your trade consideration. In your this strategy where kind of error can you have done, if you was wrong anything? Do you think to have fixed tight sl, in your general trade strategy? What is your prediction in Aussie/American dollar now? Thank you
Reply
EuroMotif vincenzomguidet
@vincenzomguidet, Hello and thanks for your kind words. My strategy is based on precise executions, with very tight stop losses. I generally look for a 1:3 RR or better (Risk/Reward ratio). As such, I would only need about a 50/50 success rate to be profitable. Thus far in 5 years I am doing better than 50/50. ie: So far so good. As for the future, I still see Dollar weakness to set in, because I think the Fed will scale back the hikes.
+1 Reply
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