Currency pair: Aud/Usd
Weekly direction: Bullish
Main reason for trade: Ascending triangle breakout
RSI is reaching the bottom, ADX reach the key point too. 45 degree angle and 62.5% retracement are perfect match the up requirement.
If AUD/USD still in the down trend, the top 0.9410 will not be broken; currently candle-stick is obviously stand up in yearly moving average, increase higher proberbility to up. Let’s find the major trend to entry this trade.
Obviously, from two charts the ascending triangle is break-out; 577 pips is in this range, conservative suggestion: wait to the pull-back to 0.8875 or break out 0.8954 can join in the trend the target can setting around 0.9164. Stop loss only 30 pits below the opening price.
The radical or long-term suggestion is any price in range of the 0.8875 – 0.8954 are good price to get in; the get the half out at 0.9350. The rest of position is using trailing stop loss by 200 pips to maximum the profit. The initial stop loss can be set at 0.8775.
Weekly direction: Bullish
Main reason for trade: Ascending triangle breakout
RSI is reaching the bottom, ADX reach the key point too. 45 degree angle and 62.5% retracement are perfect match the up requirement.
If AUD/USD still in the down trend, the top 0.9410 will not be broken; currently candle-stick is obviously stand up in yearly moving average, increase higher proberbility to up. Let’s find the major trend to entry this trade.
Obviously, from two charts the ascending triangle is break-out; 577 pips is in this range, conservative suggestion: wait to the pull-back to 0.8875 or break out 0.8954 can join in the trend the target can setting around 0.9164. Stop loss only 30 pits below the opening price.
The radical or long-term suggestion is any price in range of the 0.8875 – 0.8954 are good price to get in; the get the half out at 0.9350. The rest of position is using trailing stop loss by 200 pips to maximum the profit. The initial stop loss can be set at 0.8775.
