AUD Long position - Break even
Good afternoon Dynamic Traders,
I woke up at 4am this morning as usual to do my morning analysis before I head out to work. One of the pairs I looked at was the AUDUSD which I mentioned yesterday.
It broke through the psychological support of 0.8000 and moved down to 0.7900 where on the hourly chart we had a candle stick reversal at a 786. I went straight into this trade with my stop 25 pips below the low to give it some breathing space. Since then my 1st position has been exited and my 2nd position is just beyond break even so I'm gaurenteed a small profit on this pair. Now I will just manage this trade by adjusting my stops as the market moves up unless I get stopped out.
AUDUSD forex chart from Advanced Get