Long AUDUSD – Get on the train

2015年2月25日

Trading idea on 1h chart:
Long AUDUSD – Get on the train
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Trading idea: stop buy order at 0.7905, Risk-Reward = 4.11
SL@ 0.7877 (-28), TP@ 0.8020 (+115)
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AUDUSD broke out above resistance at 0.7850, which is support now and might be tested, BUT:
- if the price breaks out above 0.7900, then there could be a second impulsive leg before the test of the new support line at 0.7850 (if at all)
- once price is above 0.7905, 20-EMA should not be violated anymore, so my SL would be just below it
- after the breakout, one could use 20-EMA as trailing stop (more conservative risk-reward approach)

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