This is great example of a Break Hook Go entry on price breaking a trend line. SL above the ma's. TP is a resistance level. This is also an entry on our Bill Williams Awesome Oscillator (AO) strategy. There is divergence in price with a higher high but the AO is diverging downward creating two twin peaks. You enter this trade when the first red bar of the AO is below the 0 line. We have many different strategies to learn on our blog and we are constantly coming out with new strategies for traders to learn every week. Visit us below on the website, Twitter or Facebook.
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Pair did begin a short movement but during Asian Session a news event strengthened the AUD pairs and it when long hitting our SL for a 31 pip loss.