AUDUSD LONG
AUDUSD is currently enjoying a nice uptrend on the daily chart. On the hourly today there has been a 50% pullback of the last impulsive move to the upside, and formed a swing low on the former resistance trendline.
It has already moved 110% of the ATR today so I am setting a stop at 0.644 with a target 0.673, the monthly R1. This gives a decent Risk:Reward of 1:4.5
If you have any ideas supporting or on the contrary to my opinion please leave a comment.
Thank you and happy trading :)
Disclaimer: This is not financial advise
It has already moved 110% of the ATR today so I am setting a stop at 0.644 with a target 0.673, the monthly R1. This gives a decent Risk:Reward of 1:4.5
If you have any ideas supporting or on the contrary to my opinion please leave a comment.
Thank you and happy trading :)
Disclaimer: This is not financial advise
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.