Reversal trade on AUDUSD
AUDUSD has been making higher highs and higher lows since the beginning of 2017. Last Thursday and Friday we have seen a bullish pinbar formation of of a support level. Could this be the next higher low? I will be looking to trade a short term bullish reversal with an entry at the 50% retracement of the formation. My stoploss will be below the support zone and I will be targeting 2R profit.
This trade is counter trend on the short term, but with trend if we just made a higher low.
This trade is counter trend on the short term, but with trend if we just made a higher low.
Trade active
Limit entry order long was filled. Stop and tp in place.Note
Moved stop to break even.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.