TradingView
Cmasterza
Feb 5, 2019 6:23 AM

AUDUSD trade idea Long

Australian Dollar/U.S. DollarFXCM

Description

FX:AUDUSD

Trend = up on H4 + D1

I noticed a good level to buy from, the yellow bar marks previous resistance now as support tested perfectly.

I will be building long positions given that the bullish engulfing candle pattern (buy signal) that has printed and working with the trend and level aligning up. IF you are a bit more conservative in your approach, waiting for a 50% retracement of the bullish candle before activating a buy order can be considered.

Entering at market price 0.72601 with

TP @ resistance level 0.73787 and
SL below support (where this trade would be invalidated) @ 0.71787

Don't bet the farm and always exercise good risk management.

Trade closed: stop reached

Stopped out @ -80 pips
More