informedtrades
Long

AUD At Bottom of Range in Uptrend

FX:AUDUSD   Australian Dollar/U.S. Dollar
AUDUSD             has been in a range since mid-March, but has been in an uptrend since the start of the year. Now, the pair is at the bottom of the range, sitting just above the 50 SMA . This same trade worked out well for me several weeks prior, and the technical logic is still applicable, so I thought I'd try again. I'm entering at 9331, with my stop at 9302 and my target profit at 9428. I'm risking 29 pips to gain 97, which gives me a reward/risk of about 3.34.

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