Wow sometimes Analysis takes time :) Lets Short that AUD/USD
hey Guys,
AUD/USD just had a nice bullish move according to the weak Dollar after Mrs. Yellen had a nice little talk.
What do we see?
- We are approaching 0.7900000 -> Round Number and Range Trade Area!
- RSI overbought conditions
- Coming in 1.272 extension of prior moves
Targets will go to .0618 Retracement
- IF Target 1 is reached, stops of the other 2 trades go to break even
- Wait for T2 and T3 to be reached.
StopLoss above .1414 Extension, But we would still have a nice Risk to Reward if we choose to the .1618 extension for stops :)
According to your personal Risk to Reward Strategy, you can of course take of all profit at T2...
Good Luck!
Be Patient and Confident! :)
AUD/USD just had a nice bullish move according to the weak Dollar after Mrs. Yellen had a nice little talk.
What do we see?
- We are approaching 0.7900000 -> Round Number and Range Trade Area!
- RSI overbought conditions
- Coming in 1.272 extension of prior moves
Targets will go to .0618 Retracement
- IF Target 1 is reached, stops of the other 2 trades go to break even
- Wait for T2 and T3 to be reached.
StopLoss above .1414 Extension, But we would still have a nice Risk to Reward if we choose to the .1618 extension for stops :)
According to your personal Risk to Reward Strategy, you can of course take of all profit at T2...
Good Luck!
Be Patient and Confident! :)