AUDUSD Long(ish) term SHORT with a small drawback
Entry : Top of the trendline
SL : 0.25 - 0.40%, preferably above the previous high
TP1 : For people that are looking to lock in profits, locking them in at a 1:2 Risk Reward ratio (0.80%) is great if you're not keen on waiting + dont want to risk get stopped out at break even.
TP2 : Bottom of the downtrend channel which is atleast 2%, dependant on how long it will take to get there the approximate profit is around 2.50% or more.
If you get in at the top of the trendline (considering the price even goes there), make sure to set a stop loss at break-even or 0.05% from your entry IF the market moves the direction we're hoping for
Clean charts
SL : 0.25 - 0.40%, preferably above the previous high
TP1 : For people that are looking to lock in profits, locking them in at a 1:2 Risk Reward ratio (0.80%) is great if you're not keen on waiting + dont want to risk get stopped out at break even.
TP2 : Bottom of the downtrend channel which is atleast 2%, dependant on how long it will take to get there the approximate profit is around 2.50% or more.
If you get in at the top of the trendline (considering the price even goes there), make sure to set a stop loss at break-even or 0.05% from your entry IF the market moves the direction we're hoping for
Clean charts
Trade active:
Position entered -
Entry : 0.69927
Entry : 0.69927
Trade closed: stop reached