Long AUD/USDIdentified a Bullish Candle Crossover at the 100 and 10 SMA. Setup a Pending Buy order and waiting for it to be hit or to cancel it before it's hit if there is a bearish signal. Once hit I will be monitoring it for any Bearish signals to close the trade early and minimize losses. And also if the trade goes in my favor, I have certain levels to ensure that I manage to lock in profits and not lose the entire trade in any sudden reversals in the market.
Entry : 0.74697
Stop-Loss : 0.73828
Take Profit : 0.76972
If you're wondering why I have a 100 SMA and not 200 SMA like my previous Publish. As on my actual charts I have 4 SMA in total. 10,50,100 and 200. And I screen the market at hourly and 4 hourly time frames.
I use Fibonacci Levels to set my Stop-loss and Take Profits.
