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