AUDUSD - Double Bottom Long

Australian Dollar/U.S. DollarFXCM

Description

⋅ Jun 15, 2016 7:45 PM

AUDUSD has created a double bottom at 0.7330 level. A long is recommended when price pulls back to support level (the yellow areas)
Trade Plan:
- Buy limit @0.7390
- Stop loss under 0.7330
- Take profit @0.7600.

Trade active

⋅ Jun 16, 2016 4:12 AM

Buy limit @0.7390 was hit. Stay Tuned.

Trade closed manually

⋅ Jun 16, 2016 12:03 PM

Price broke down to 0.7340 level. It seems like the pattern will fail. I decide to close the trade manually at this level.