AUDUSD continued to rally as price failed to break 0.68446 support zone and pushed roughly 72 pips up, where it touched the top of the trend line around 0.6917 further confirming an overall downward trend on multiple higher TF's.
As price failed to close above the trend line, we placed some small positions Pre-London, w/ a stop just above the trend line w/ roughly 7-10 pips.
We currently have a 1:2.98 R:R for our TP 1, stops are currently at B/E w/ half positions close for #riskfreetrading. Price has rejected minor support at 0.68927 zone and turned into a minor resistance, w/ a retest/rejection confirmation of current price action, and we will set TP around 0.68446 area or just slightly above to be safe.
Entry: 0.69182
Stop-Loss: 0.6924 (Approx)
Take-Profit 1: 0.68927 (20 pips reached)
Take-Profit 2: 0.68446 (Approx.)
Take Profit 3: 0.6806 (Approx.)
As price failed to close above the trend line, we placed some small positions Pre-London, w/ a stop just above the trend line w/ roughly 7-10 pips.
We currently have a 1:2.98 R:R for our TP 1, stops are currently at B/E w/ half positions close for #riskfreetrading. Price has rejected minor support at 0.68927 zone and turned into a minor resistance, w/ a retest/rejection confirmation of current price action, and we will set TP around 0.68446 area or just slightly above to be safe.
Entry: 0.69182
Stop-Loss: 0.6924 (Approx)
Take-Profit 1: 0.68927 (20 pips reached)
Take-Profit 2: 0.68446 (Approx.)
Take Profit 3: 0.6806 (Approx.)