The suggested range of .7200 - .7100 for AUD/USD to bounce was mentioned almost a week ago by several top analyst. I 100% agree with them and is why I've waited. Personally believe that at or below .7180 should be a good position for an entry but like always wait for confirmation. In this chart I have zeroed in where the best entry will be taken which is our sweet spot. On this trade we will watch .7200 , .7150, and .7126 for a possible entry.
We will be taking two entries .
Our strategy for entry is simple. If we are trading 2 lots total then we will make our first entry at 1 lot and then the second entry also at 1 lot. The first trade is half of our position because if we are wrong the first time we will have a second chance for a better entry without risking too much. If we will be keeping a close eye within the .7200 -.7100 range for buy signals and will update here once we have entered the trade.
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Entry @ .7165 & .7125 using risk management strategy above.
Stop @ .7065
TP1 @ .7350
TP2 @ .7475
Good Luck!
FXJunkie Team
http://fxjunkie.net
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We will be taking two entries .
Our strategy for entry is simple. If we are trading 2 lots total then we will make our first entry at 1 lot and then the second entry also at 1 lot. The first trade is half of our position because if we are wrong the first time we will have a second chance for a better entry without risking too much. If we will be keeping a close eye within the .7200 -.7100 range for buy signals and will update here once we have entered the trade.
Don't forget to Like and Follow Us :)
Entry @ .7165 & .7125 using risk management strategy above.
Stop @ .7065
TP1 @ .7350
TP2 @ .7475
Good Luck!
FXJunkie Team
http://fxjunkie.net
Comment:
We will be watching for buy signals withing the .7200 - .7100 range. Expected entry is at or near our sweet spot. If we get a buy signal sooner then we must enter right away. Remember half of our trade amount on the first entry.
Comment:
Getting quite of a reaction to the .7200 level
Comment:
In Reversal Zone. Looking for buy signals
Comment:
Divergence spotted on 15m, 30m chart. Seeing some action at .7175. If price climbs to .7200 before we reach our first entry price i will be entering at .7200. If this happens then my 2nd entry if hit will be at .7165 .
Trade active:
In at .7200 Entry #1
Comment:
Pin Bar formed at Reversal Zone. Demand Zone was not hit but we managed to enter at .7200 for our first entry and now up 28 pips. Looking good so far.
Comment:
Found demand zone and left the area with a large bullish candle on 4hr chart. Looks like AU will try again to climb. 2nd entry is active