AUDUSD 1H



Long or Short: LONG

Entry Point: 1.0570

Stop Loss: 1.0500

Profit Target/s: 1.0700

Reward-to-risk Ratio: 70 pips vs 130 pips (a bit under 2:1)

Risk percentage: 1%

Indicators: 100SMA (red line), Fibo

Trade Rationale: gold recently broke out of a long-term triangle and i think it'll keep rising and provide support for AUDUSD.

also, the 50% Fibo on AUDUSD coincides with a former resistance, and i anticipate that it'll meet the 100SMA in the same area.

Trade Adjustments: moving my stop to BE when im up by 70 pips.