AUD/USD Long

Trading Discussion
1

Long or Short: Long
Entry Point: 1.0275
Stop Loss: 1.0240
Profit Target/s: 1.0400
Reward-to-risk Ratio: around at least 5:1
Risk percentage: 1%

Trade Rationale:
Technical - Waiting for oversold Stochastics signal, trendline support, 61.8% Fibo support, former highs

Fundamental - Developments in EU Summit weekend could boost risk appetite. China has also been showing good data lately.

Trade Adjustments:
I’ll move my stop loss to break even as soon as price reaches 1.0350. I’m also thinking of entering at the 50% Fibo if price doesn’t reach the 61.8% level

2

Great setup I was looking out for the same trade, eventually I moved onto NZD/USD which looks very alike the aussi but with a closer price entry opportunity at the TL bounce.

3

your trade wont be triggered anytime soon imo. even stoploss on my aussie long is 1.028 lol))

4

Awesome trade. Caught on after your post and currently up 16 pips. Trying to ride it a little longer.

6

Seems like a good setup if the entry was at the 50.0% fib. It currently looks like it will not break through 50%.

7

I made the trade the following night after this post. My return has dropped since my last post, but when I checked, I was up 16-22 pips. It’s pushed back down to 2, but that’s okay.

8

Just wanna update since my last post…

I was up 22 pips. Remember when I said I wanted to ride it a little longer? There was my greed. I should have taken my profits at 22 pips and at least let it go when it fell to 2. After that, I got stopped out at -30 pips over night. -facepalm-

9

Are you scalping? 22 pips is hardly greedy if your day/swing/position trading and it sounds like your stop loss is way too tight.

10

Unfortunately your stop was too tight.

Cheers.