AUDUSD is Testing a Support Zone at 0.76700 – Best Trade This Week

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AUDUSD is Testing a Support Zone at 0.76700 – Best Trade This Week 2017-02-16T17:11:17+00:00
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • Trader90
    Participant
    Post count: 20

    AUDUSD is sitting between a strong support zone with over 10 touches and the monthly R1 resistance pivot. If it pierces it, we got ourselves a good trade. The price action started to slow down at the trend line, not surpassing the last high point, and is now looking to turn around. I am already in, in retrospect, I should of probably waited until it broke that support zone.

    I am projecting about 150 pips on this trade, what do you guys think?

    500

    ForexFool
    Keymaster
    Post count: 44

    This trade is starting to look very good. What do you guys think about the take profit at 0.76000? I feel like it is reasonable and at a decent support zone.

    Personally, I wouldn’t want to risk my profit. 100 pips is enough for me.

    FxNewbie
    Participant
    Post count: 11

    I am thinking of waiting this one out all the way to 0.75000. Any opinions on how long it will take to get there?

    I am only trading .01 lots, but it is costing me about 30 cents a week to keep open. The max my trade will profit is about $19 USD. So if it takes more than a few weeks, it might not be worth the pain.

    Look forward to hearing from you!

    forex trade alerts

    Trader90
    Participant
    Post count: 20

    This one is about to earn me 130 pips.

    @fxnewbie, looks like the someone heard you talking. This trade took me about 15 trading days to close, but it was worth it. 130 pips, that’s 10 pips a day.

    I like trading the larger timeframes, which lets me walk away from the computer and sleep 🙂

    Trader90
    Participant
    Post count: 20

    Thought I should share my trade revision, since I proposed the trade.

    Since there is so much momentum and I was sitting on this trade for so long, I decided to go with a 3 bar exit strategy. I figured it is likely to go another 50 pips, and I only have 10 pips to sacrifice.

    nzdusd 3 bar exit strategy

Viewing 5 posts - 1 through 5 (of 5 total)
Reply To: AUDUSD is Testing a Support Zone at 0.76700 – Best Trade This Week
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