FxSaint
Long

AudUsd - Potential Setup

FX:AUDUSD   Australian Dollar/U.S. Dollar
102 5 1
This pair has performed well recently. AudUsd             is at interesting LVL             at h1 & m5 timeframe. Its a demand zone & price has bounced quiet well from that demand. It will look like train has already left but, believe me I have seen this setups plenty of time, where they make a small pull-back again to the start point to continue its momentum. Moreover, if it retrace then we get a good minimised risk of 20-25 pips which will get us good R:R. Initially I am expecting price to test LVL             @ 0.94200 handle & depending on its reaction there we will be able gauge either it will bounce off there for mega down trend resumption of it will break to north. All said, trade management is crucial, scaling out @ initial stages & scaling in @ later stage is key to any position building & risk management. In the meanwhile lets wait for our entry to be triggered. Persistence // Patience // Trade management is the name of the game. Lets practise patience here.
Cheers!

Edit - If price goes past 0.92800 then leave it alone, any retracement there after should not considered for entry. If we need to take entry then it has to happen now or no play here.
The Ahaa moment, what a gap open, feels good to stay at right side of the market. I closed my few position @ 0.9338 with +88 pips, now the initial loss is covered & profit is made. Looking closely on the developments. I am marking the chart closed & will not update it any more.
Reply
Closing half position @ 09224 with -23 pips, remaining will be closed if price drops & engulfs the low of demand zone @ 0.92120. Lets see how it unfolds itself.
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out