Trade explained.
Last trade I explain to you today is a set of 3 trend following trades. I don’t always have time to post my trades, but when I do I hope you learn trading from it. Here you see the AUD/USD which is in a weak AUD and moderate strong USD position long term. I noticed this opportunity also on the chart. There were forming lower highs and lower lows. On pullbacks you then have the possibility to take the best entries in the direction of the trend with the lowest risk. That also means of course the best reward, in this case some targets are way lower. For example the 50 or 61.8 retracement of the last up move, or the broken downtrend resistance, now possible turned to support on the daily chart. These are things to look out for in price, as targets and as possible reaction zones to take profits. Some partial trades I am still holding and are running for these lower targets. Hope these posts help and would love some likes or feedback if you feel so inclined.
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Good trading. Always manage your risk exposure, by limiting your trading size and leverage, according to your account size.
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