Long

AUDNZD bullish flag

Updated

Bullish flag inside a steep bullish channel on a 1H timeframe, all inside a global neutral channel. First trade will take advantage of the flag (TP - top of global channel, SL - candle bottom of the flag) and second trade will take advantage of the channel breakout on a 5% channel trigger (TP - previous historic pivot, SL - real channel boundary) - that way the trade is risking only the channel trigger margin.

Things to watch out for: AUD Business conditions, confidence report(10/09), consumer sentiment(10/10) and manufacturing PMI(10/12)

Total possible profit = 104.8 pips
Total risk = 31.2 pips
1-winner/loser scenario = 42.7/30.9 pips

Trade closed: stop reached

rs7gram

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