[B]AUD/USD 4H
[/B]
[B]Long or Short:[/B] Long
[B]Entry Point:[/B] 1.0600
[B]Stop Loss:[/B] 1.0480
[B]Profit Target/s: [/B] PT1 = 1.0750, PT2 = 1.1000
[B]Reward-to-risk Ratio: [/B] Around 2.3:1 if all PTs are hit
[B]Risk percentage: [/B]2%
[B]Indicators used: [/B]Fibo
[B]Trade Rationale:[/B] Pair looks to be trending up, looking to buy on a dip to 1.0600 (38.2% Fibo), which was a former level of interest. AUD has also been one of the most resilient currencies as of late, and I think gold prices will continue to be supportive.
[B]Trade Adjustments:[/B] Moving my stop to breakeven if I get triggered and price reaches 1.0720. If price hits PT1 (1.0750), I will take profit on half my position.