AUDNZD Update: Profit=659 pip SL=140 pip Reward/Risk > 4.7:1

28 Jul 2020

Trade Setup summary:
Profit targets=659 pip (45 + 72 + 137 + 191 + 214)
Stop Loss =140 pip
Reward/Risk > 4.7 : 1

Current Status:

Total Profit: 309 pip
Closed trade(s): 117 pip Profit
Open trade(s): 192 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.6583 based on 'previous Forecast' at 2020.07.15 :

Closed Profit:
TP1 @ 1.0721 touched at 2020.07.27 with 45 pip Profit.
TP2 @ 1.0748 touched at 2020.07.28 with 72 pip Profit.
45+ 72 = 117

Open Profit:
Profit for one trade is 1.0740(current price) - 1.0676(open price) = 64 pip
3 trade(s) still open, therefore total profit for open trade(s) is 64 x 3 = 192 pip
Break Even 1.0676

Technical analysis:
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 66.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested UpTrend again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP1= @ 1.0721
TP2= @ 1.0748
TP3= @ 1.0813
TP4= @ 1.0867
TP5= @ 1.0890

SL= Break below S1

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