AUDUSD 4H FORECAST
Updated
TRADE IDEA: A sell position can be considered since there is already a signal at a forecast level.
Trade active
As of this writing, scaling out properly have secured traders with a minimum of 3R profit, while still having a portion of the initial position open.Trade closed: stop reached
This was a good trade. 3R profit achieved because of proper trade management. Here is how I managed the trade.
Entry: 50% of candle
Free-Trade Strategy: Once the market hit the 2R level
Taking Profits: scaling out by closing 2/3 of the position once the market hit the 3R level (2R Profit).
Moving the Stop-Loss: Once the market closed below the 3R level, I move the stop-loss to the 3R level to secure another 1R profit.
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