UPDATE #1: TRADE: AUDUSD: BUY@.72145 Wave Count (+68 pips)

FX:AUDUSD   Australian Dollar / U.S. Dollar
736 1 17
Trade has already reached my TP1 on this trade for a quick +68 pips. I am now closing 75% of my open positions on this trade and leaving the other 25% to run if it continues to move up more. I'll put a trailing stop on this last 25% position of 20 pips (about 25% of profits) to catch a few more pips.

I'll be monitoring price action to watch for signs of bearishness because I am expecting that at some point, prices will turn back down. It is also the reason I closed 75% of positions this time. Also, prices have stalled right near a good SR structure as well. So just in case it turns from here, I'll have already pocketed majority of profits.

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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