Simple trade, like the title says. Stop is 0.75543, entry at market now, add on dips to 0.75923. Risk 0.5% per entry. The price has broken above the downtrend mode, so the trend is now up, in the intermediate term.
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Good luck!
Ivan Labrie.
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Add a 0.25% risk position with the same stop, at market.
I'm not liking the retracement of post-FOMC action today, I suspect traders will close positions going into the debat and OPEC news so we can probably reenter next week. We will close all FX positions for now. It's better to avoid risk and take a small loss than continue to be exposed to this move. In the long run, it's highly probable that the trades pan out well, but short term distortions in price can cause larger loss than acceptable before the fundamental move pans out.
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I'm only buying back the Aussie longs, for FX. It's currently the strongest currency, holding above all resistances. I'll buy more at 0.75918 with the same stop.
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Potential long term upside for AUDUSD is considerable: