Forex portfolio: Go long AUDUSD now, add on dips
Updated
Simple trade, like the title says. Stop is 0.75543, entry at market now, add on dips to 0.75923. Risk 0.5% per entry.
The price has broken above the downtrend mode, so the trend is now up, in the intermediate term.
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Ivan Labrie.
The price has broken above the downtrend mode, so the trend is now up, in the intermediate term.
If interested in access to my trading signals or tuition services, message me privately.
I'm offering a discount for trading signals and tuition for one year.
Contact me for details.
Good luck!
Ivan Labrie.
Note
Add a 0.25% risk position with the same stop, at market.Trade closed manually
I'm not liking the retracement of post-FOMC action today, I suspect traders will close positions going into the debat and OPEC news so we can probably reenter next week. We will close all FX positions for now. It's better to avoid risk and take a small loss than continue to be exposed to this move. In the long run, it's highly probable that the trades pan out well, but short term distortions in price can cause larger loss than acceptable before the fundamental move pans out.Trade active
I'm only buying back the Aussie longs, for FX. It's currently the strongest currency, holding above all resistances. I'll buy more at 0.75918 with the same stop.
Note
Potential long term upside for AUDUSD is considerable:Note
Potential short term upside: 0.79166Note
AUDUSD acting strong.
Note
Move stops to 0.76513
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