tntsunrise
Short

AUDUSD BREAKS OUT + PULL BACK TRADE

FX:AUDUSD   Australian Dollar/U.S. Dollar
5439 26 114
SIMPLE BUT EFFECTIVE
This is a break + pull back trade idea:

SELL THE PULL BACK
AT 0.7673
AUD has lost the up momentum
SL : ABOVE 0.7710
TP: 0.7500
Since the daily chart AUD did not make a new high
I will use this entry method to add some short position.
Trade active:
snapshot

Order filled at 0.7673
Comment:
snapshot

0.7380 is my target
Comment: Very good, breaks lower low. now is 0.7630
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im entry 0.7658 from yesterday and set SL 0.7726.
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making its way back up to .7673
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I got in at 0.7672 and SL above the previous structure (high) at 0.7720. Nice one Jack!
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Nice analysis sir
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When taking a pull back trade like this is the weekly chart at the 38.20% standard for calculating your profit target?
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u can do that by taking partial profit and let the rest position run.
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Creepy, almost my exact trade in your info...
+1 Reply
GREAT
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Hi Jack, wondering how much the news in an hour can affect the trade
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Nice call Jack I am in with you lets go all the way!
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I love this strategy Breakout and pullback and I wonder How to see the pullback @0.7673 in this case ? Did you look at on TF H4?
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1H CHART
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Thank you good one tntsunrise !
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tntsunrise TOP SalmanKhalek
welcome
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Very good idea
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Interesting Analysis, but few points from my side, first still the trend is up but acting from weekly resistance. so need to play with cautious. high reward may work, but its better to exit near demand areas like 0.7610-0.7630. I took this trade and exit @ 0.7635.
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AUDUSD


I think ,too many eyes looking to sell,
The supply zone will fail soon.
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Do you think that the set-up is still valid after the last bullish candle?
+1 Reply
tokyotiger RamaDeda
no, wait to see if it makes a new high now
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It looks like hit my SL @ 0.772
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Now we have to wait until this thing will come down again...it will.
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ShaneIce Mairita
Do you think it will go beyond 0.7720?
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Mairita ShaneIce
Yes, it can happen.
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It hit SL and reversed.
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My bad too...
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Same here
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