joematthews1

AUD USD Long, Break n Retest of Key Level (0.656). PRICE ACTION.

FX:AUDUSD   Australian Dollar / U.S. Dollar
The H4 Rejection Wick confirms this uptrend. Pure Price Action Trade - no indicators...

Stop Loss set below previous wick although could be lower below Key Level (0.656) for insurance .

TP is set at a 1 to 1 (Risk to Reward), although if we can continue upwards. I will use a trailing stop.

Caution ! - we are near extreme highs and any positive fundamentals for USD could shift momentum...
Comment: 6pm H4 Candle closed Bullish Engulfing..
Comment: Resistance Level established at 0.663 - I have now closed this position 25 pips in profit.
Trade closed manually: + 25 pips
Comment: TP Hit anyway... patience !!
Trade closed: target reached