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7pasos
Apr 19, 2013 7:42 AM

If close above 1.0344, enough for a morning star. Long

Australian Dollar/U.S. DollarFXCM

Description

After a huge blast candle, the AUDUSD have a very good probability to experience a more strong pullback, and if this friday closes above the 1.0344 will have enough to show a very reliable morning star (japanese candle pattern). The extraordinary risk reward on this setup makes more desirable this trade.
As a cautionary measure, you can move the stop from the bottom to a breakeven at the time when the 50% retracement of the blast candle be achieved.
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