Long audusd!!
Hey guys
Hope you guys are having a good week. I am taking AUDUSD long here. Let's take a look
Weekly:
Price is in a triangle formation. Macd is crossed down. Weekly kumo support held so far. It is neutral picture as price as in the cloud.
Daily:
Price broke the trendline you can see in the charts. Broke kijun and macd is crossed up. Broke 4h cloud and pulled back a bit. I am using this pullback to take a long with volatility adjusted stop. My target is 0.79-0.8. This is not a quick trade. It can take weeks as summer is here and liquidity is less. But very nice risk reward ratio and i would like to build my position in this. If it doesn't work out, we have the stop in place and i'll take the loss. Let's see how this one plays out.
Thank you for reading.
Hope you guys are having a good week. I am taking AUDUSD long here. Let's take a look
Weekly:
Price is in a triangle formation. Macd is crossed down. Weekly kumo support held so far. It is neutral picture as price as in the cloud.
Daily:
Price broke the trendline you can see in the charts. Broke kijun and macd is crossed up. Broke 4h cloud and pulled back a bit. I am using this pullback to take a long with volatility adjusted stop. My target is 0.79-0.8. This is not a quick trade. It can take weeks as summer is here and liquidity is less. But very nice risk reward ratio and i would like to build my position in this. If it doesn't work out, we have the stop in place and i'll take the loss. Let's see how this one plays out.
Thank you for reading.
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