AUDUSD TWO POSSIBILITIES

Australian Dollar/U.S. DollarFXCM

Description

⋅ Jul 19, 2016 9:23 AM

Hi traders,

The AUDUSD has gotten pretty close to the bullish trendline, that was initiated about 2 months ago.
I am waiting for 1 of 2 things to happen. The first one is an immediate bullish bounce at the trendline. The second one is a break through the trendline and then a retracement.

--------BULLISH--------
Entry: 0.74624
Stop: 0.73966
Target 1: 0.75586 = R:RR 1.53
Target 2: 0.76309 = R:RR 2.65

--------BEARISH--------
Entry: 0.74864
Stop: 0.75718
Target 1: 0.73398 = R:RR 1.72
Target 2: 0.72465 = R:RR 2.81

I will keep this updated as time progresses. Best of luck!

Trade active

⋅ Jul 20, 2016 11:14 PM

Comment

⋅ Jul 27, 2016 9:45 AM

Target 1 hit.

Trade closed manually

⋅ Jul 27, 2016 5:11 PM

Closing the remaining position at break-even before FOMC meeting.

Order cancelled

⋅ Jul 27, 2016 6:20 PM

AUDUSD Trend Lines

Comments

11021992

⋅ Jul 24, 2016 12:44 PM

Broken trendline. Now looking for a possible bearish setup.

11021992

⋅ Jul 21, 2016 6:52 AM