sunnyk
Long

continuatio of triangle break out on EURAUD

FX:EURAUD   Euro Fx/Australian Dollar
47 7 2
setup ~ triangle breakout is being retested
trigger ~ break of new swing point high established on breakout of compression triangle
note : while overall trend maybe unclear, the 2 targets are within upwards channel

entry ~ 1.4976
stop ~ 260 pips
t1 ~ 260 pips
t2 ~ 520 pips
t3 ~ 780 pips
triggered into trade ...
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trade is currently profitable at 9.50 pm et.
RBA has key news coming out at 12.30 am et tuesday - will be looking to consolidate/protect gains prior to that news event
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there was a bit of flutter and fast price action in response to RBA news at 12.30 et yesterday. Since i was in the trade - and the price action looked good i sat through the swings. Typically if my trade hasnt triggered atleast an hour before key news event i will cancel the order.
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a tough trade to sit through - price action approached +50% move towards target and is retracing now ... needs to find support around 1.5025 ... will consider moving stops to break even to protect against downdraft ...
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stops moved to break even ...
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still holding ... looks like price grinding higher
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position closed - break even
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