SergeantPringles
Long

AUDUSD - 1H - Breakout from consolidation

FX:AUDUSD   Australian Dollar / U.S. Dollar
101 0 5
Buy now. We recently finally saw a clean breakout from the strong trendline that we were ranging around for be past weeks. now we had consolidation downwards which we just broke out of to the upside
Comment: target setup.
snapshot
Comment: addon if we break above
snapshot
Comment: note thats its not a risk free addon, so u cant significantly improve your stop on the original position. so only do this if your original position is small anway
Comment: After entering an addon after the break of the recent triangle, i pulled all the remaining stops below the triangle, since i wanna limit my risk and due to the market having not much power currently, which is always worryin for a breakout trader.
we did see a nice spike tho after the breakout and im now looking to take profits for origianl position and the 2 addons at the gartley completion point.
Comment: correction. its ofc a bat pattern, so targets are a little bit higher below the 886. not the 786 for a gartley.
Comment: its gettin very close to the target area. i will then also sell the bat pattern as a hedge against my remaining longs. make sure to place your orders if you re a pattern trader
snapshot
Trade closed: target reached: Target 1 reached for both addons and original postion.
Bat short hedge triggered and now stops to breakeven on that after missing my target by a few pips on the first attempt
Comment: currently looking for an addon for my hedge short based on the bat. ofc the earlier consolidation wouldve been much better, but well - i need to sleep too.
snapshot
Trade active: short addon active. TG1 ~50 Bat retracement TG2 ~618 Bat retracement
Trade closed: target reached: Bat Pattern and Addon TG1 it. stops breakeven for addon
Trade closed: target reached: got stopped out for my addon TG2 for breakeven. while i got a TG2 winner on the original bat sell.
no further shorts for AUDUSD left.

i still have my original long breakout and the long addon TG2 and TG3 active, so 4 position. but the stops are only 10 pips lower as current price at breakeven, so we really cant go much lower or i will be out there too.

lets see how it goes
Comment: all remaining longs stop out for breakeven. all flat audusd.

this is shaping up to be a bigger consolidation i guess befor aud finally goes up. i will look into that next week. but i will probably publish a new idea for this, dont worry.
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