AVAUSD PRICE PREDICTION -SUPPORT AND RESISTANCE -SIDEWAYS MARKET
AVAUSD is not currently following any trend showing the market is currently moving in sideways direction. Support and Resistance concept comes into play in such scenarios. As Support and Resistance are meant to be broken so I have placed Sell Stop and Buy Stop orders at the breakout of support and resistance levels respectively. Sometimes, market crosses first Support and Resistance level and then move back so I have used breakout of 2nd Support and Resistance levels as my possible entry points.
TRADE PLAN:
REWARD: 2%
{
(TRADE 1 (Sell Stop) : 561.9 : approx USD 89.91 (REWARD),
(TRADE 2 (Buy Stop) : 390.9 : approx USD 89.91 REWARD)
}
RISK: 2%
{
(TRADE 1 (Sell Stop) : 561.9 : approx USD 89.91 (RISK),
(TRADE 2 (Buy Stop) : 390.9 : approx USD 89.91 RISK)
}
TRADE PLAN:
REWARD: 2%
{
(TRADE 1 (Sell Stop) : 561.9 : approx USD 89.91 (REWARD),
(TRADE 2 (Buy Stop) : 390.9 : approx USD 89.91 REWARD)
}
RISK: 2%
{
(TRADE 1 (Sell Stop) : 561.9 : approx USD 89.91 (RISK),
(TRADE 2 (Buy Stop) : 390.9 : approx USD 89.91 RISK)
}