AUDUSD trade idea
Updated
AUDUSDTrend = up on H4 + D1
I noticed a good level to buy from, the yellow bar marks previous resistance now as support tested perfectly.
I will be building long positions given that the bullish engulfing candle pattern (buy signal) that has printed and working with the trend and level aligning up. IF you are a bit more conservative in your approach, waiting for a 50% retracement of the bullish candle before activating a buy order can be considered.
Entering at market price 0.72601 with
TP @ resistance level 0.73787 and
SL below support (where this trade would be invalidated) @ 0.71787
Don't bet the farm and always exercise good risk management.
Trade closed: stop reached
Stopped out @ -80 pips
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