Should price action for the AUDUSD remain inside the 0.8950 to 0.9000 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Long Position @ 0.8975
- Take Profit Zone: 0.8750 – 0.8800
- Stop Loss Level: 0.9100 (We will not use a stop loss order to close this trade for a loss and execute this trade as advised below). We do use stop loss orders to protect our profits and close a trade for a profit. Each trader may decide if and where they would like to place the order.
- Hedge Level: Buy Stop Order @ 0.9050 (Take Profit Level @ 0.9100)
Should price action for the AUDUSD breakdown below 0.8900 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 0.8750 – 0.8800
- Stop Loss Level: 0.9100 (We will not use a stop loss order to close this trade for a loss and execute this trade as advised below). We do use stop loss orders to protect our profits and close a trade for a profit. Each trader may decide if and where they would like to place the order.
- Hedge Level: Buy Stop Order @ 0.9050 (Take Profit Level @ 0.9100)
Should price action for the AUDUSD breakout above 0.9050 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9050
- Take Profit Zone: 0.9100 – 0.9150
- Stop Loss Level: 0.8975 (We will not use a stop loss order to close this trade for a loss and execute this trade as advised below). We do use stop loss orders to protect our profits and close a trade for a profit. Each trader may decide if and where they would like to place the order.
- Hedge Level: Sell Stop Order @ 0.9000 (Take Profit Level @ 0.8950)
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