AUD/USD Support & Resistance Trading
Multiple support & resistance lines on the 4 Hour chart of AUD/USD. Currently not trying to breakout trade, just going for range. Entries are marked on the chart. Would recommend you to set your own stops and take profits as I'm currently just experimenting with them.
I'm planning on releasing some other charts like this one, see what SL/TP would have given me the best return over those trades, and start posting charts with those levels. As you can see right now a few orders have a very large Risk:Reward Ratio, and I think this might work over the long run as a single winning trade would cover allot of losing trades. The only problem would be human emotions because you could not have a single winning trade for a long time and end up giving up the strategy.
I'm planning on releasing some other charts like this one, see what SL/TP would have given me the best return over those trades, and start posting charts with those levels. As you can see right now a few orders have a very large Risk:Reward Ratio, and I think this might work over the long run as a single winning trade would cover allot of losing trades. The only problem would be human emotions because you could not have a single winning trade for a long time and end up giving up the strategy.
Trade closed: stop reached:
SL Hit