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arieg1985

Potential Long Position for AUD/USD_Trade Plan 2017.08.03

Long
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
arieg1985  
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns AUDUSD LONG tradeplan swingtrade daytrade uptrend
3
0
trendanalysis chartpattern audusd long tradeplan swingtrade daytrade uptrend
snapshot

Legend for price level, trend line, and rectangle:
Dark Gray > Weekly Level
Blue > Daily Level
Red > H4 / H1 Level
Green > M15 / M5 Level
Yellow > M1 Level

D1 and H4 are both show the overall trend is still up with price holding above MA200.
Currently, price just broke down the confluences of support area around 0.79557 - 0.79696 (Price Structure, Up Trendline).

Trade Plan:
If price continues its pull back to the next confluences of support area around 0.78751 - 0.78899 (Price Structure, MA100, Fibo Ret 38.2%) and rejected up, long the market to follow the potential uptrend continuation.
With Stop Loss 45 pips and Target Profit 135 pips, the potential trade offers 3.00 Reward-to-Risk Ratio.
As an alternative, can utilize trailing stop to ride the trend continuation.
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