FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
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On the chart we can see that price is currently in a range and it hasn't had a breakout yet. Going off this we can see that will price will move up to a resistance level . Price could either be rejected at this area and go back down to the support level or it will break out of the range and head up to about the 0.8 area. This will be and good trade to get into until markets shut tonight and then it will be interesting to watch next week to see where price goes.

Do your own analysis before placing a trade and don't use this to go off but this is where I feel the market is heading

Let me know what you think

Comments

Nice idea but that's a bad risk to reward ratio, you're risking almost the same amount you're willing to make. Not hating or anything, just my tip is, aim for at least 2-2.5 risk to reward ratio! Regards!
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JoshPeacock AvramovFX
@AvramovFX thanks for the reply. I was using this as a first TP level and if price broke out then I was going to hold a RR of 4
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