FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
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1
My first analysis, what i have done here is create an downwards trend zone , with some support and resistant lines , am expecting an upwards rally before continuing the downtrend . The aim for me personally is to be patient and make my stop loss as small as possible so my ideal point of entry would be ( 0.74991) with the stop loss at (0.75582) with a take profit of (0.73824) once it reaches near this point i will remove take profit and move the stop loss to the take 50% of profit.....................

I also have two more points of potential reversal.

0.74582
0.74770

But the stop loss stays the same so depends on how big your willing to have your stop loss

Comments

FORGOT to add the point about the orange line at 0.74288 was a potential early reversal but risky entry due to the potential rally upwards
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