by Rolando G, June 7, 2022
by Rolando Gonzales June 7, 2022
AUD/USD
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Long
|
H1
H1
Multi time frame
The price bounced back from the low trendline of the correcting structure from the daily. It already made a V formation on the 4-hour time frame and then made a very nice continuation correction on the 1-hour and 15-minute time frames from which it broke up in an impulsive manner.
Move the stop loss to breakeven once the price reaches 1 to 1 in RR, Then if the price action allows then leave the trade running until it raches 3 to 1 in RR and decide if take profit or continue with the trade if the price action is favorable to continue to the previous high on the 4-hours time frame.
One position 0.5% of risk
Watch out for a possible bounce when the price reaches the top of the continuation correction structure of the 1-hour time frame
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