The AUDUSD forex pair looks like a good long entry. You can see a pullback from the highs and the daily chart shows that a double bottom has been formed just above 10400. I’ve gone long at the current price (marked E) and put a stop order at 10400 and a target 80 points higher. I’m looking at a 1:1 risk to reward on this trade with a maximum loss of 1% loss on my account if I lose.

My trading these days has become rather boring… I set my trades and let them run to completion.. I know that I will either win or lose as I have set limits and stoplosses in place. This makes trading rather stress free.. all I’m doing is looking for entries which look like that there is more chance of it working than not and that’s all you can do.


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Category: Forex trader, Make Me Some Money Ideas, Trading