AUDUSD: Buying Opportunity

The price reversed from the support zone formed by SMA200 and 0.72000 support level. RSI and MACD confirmed the price reversal. It gives us a possible buying opportunity in the direction of the main trend.

Here is an example of a long trade:
Buy above 0.72200
Stop below 0.71850
Take Profit at 0.73850

Risk per trade must be no more than 2% of the capital. If the price moves in the direction of the trade, it will be possible to use a trailing stop.

The breakout below SMA200 and the local swing low will allow us to open short trades.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.

Kommentera:

Fix the part of the profit and move the stop to the breakeven.