I was looking at the AUDUSD chart a few minutes ago and notices something cool…
What do you think, is AUDUSD going up or down?
Nice set up
Good set up! At the time of this writing you should be about +100 pips.
I started following this set up last Friday. Demo wise I got in at 1.0167 with a stop 1.0118 (50 pips below). At 1.0218 (+50) I took off 50% of the position, locking in 1%. I also moved my stop up to 1.0143 which if hit will leave me with .5% profit for this trade.
At 1.0267 (+100 pips from entry) my stop will go up to 1.0195 (+25 pips past entry) that will give me 1.5% profit is the stop is hit. My over all target is 1.012 (about 140 pips).
The bad news: I was in a short trade on this pair, REAL MONEY, when I saw this guy. I’ve been stopped out of that trade with the opening of the new week.
Good Luck and make a MILLION!
Haha thanks for the kind words… I actually ended up closing at around 560 pips profit at the 1.01523 level because that was the lowest support… abd thank God I did because it looks like trend is reversing now