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TraderMozo
15 kwi 2018 15:11

Is AUD/USD going to fly? Long

Australian Dollar/U.S. DollarFXCM

Opis

We can observe a descending wedge from the 4H chart and scaling down to the 1H chart, we can see a breakout of the wedge pattern.
It is important to observe the price action as prices could rebound after a retest of the trendline

Upside targets:
TP 1 - 0.78470 [1.618 fib. extension and 0.618 fib. projection]
TP 2 - 0.79070 [-0.618 & 2.618 fib. extension and 1.0 fib. projection]

SL: 0.76875

An entry from the retest (if any) and reaching TP 2 would give a nice risk-reward ratio of around 3.

Disclaimer: Content discussed is for informational purposes only and shall not construe an offer or solicitation to engage in any activity regarding the subject matter.

Transakcja zakończona: osiągnięto poziom stop

SL has been hit. Moving on to the next trade!
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