AUDUSD Long Trade Setup

5 Mar 2018

Hello traders.

I'm looking at long trade and I put an entry order above previous top with stoploss below previous bottom.
TP1 : 0.79200 (for running flat)
TP2 : 0.80500 (for expanding flat)
TP3 : 0.84500 (0.382 retracement of down impulse)

6 Mar 2018

Trade aktif

But I don't like how it reversed quickly. So, I'm waiting for a small correction, then I will remove my trade. But, if it goes up sharp, I will keep it.

8 Mar 2018

Catatan

Trade is still on and I'm waiting a correction for more up side.

9 Mar 2018

Catatan

Even if there is still a chance for one more drop, it looks like corrective structure completed as contracting flat. Now, I'm waiting for up impulse.

12 Mar 2018

Catatan

It went up nicely. There isn'tt any divergence in 1H, but there is one in 15m. It can be an issue, we will see. Now there are 3 options:
(1) Structure between aqua lines can be running flat. In this case, it will go down and stop me out.
(2) It can make a deep correction for more upside.
(3) It can make a small correction for more upside.
At this point, I don't touch my stoploss, because I don't think first one will be the case and I want to protect my trade if it makes deep correction. If you don't like to keep the trade open with current risk, you can move your stoploss to breakeven.

14 Mar 2018

Catatan

It's going up, but still there isn't enough momentum. I think it will make a deeper correction.

16 Mar 2018

Catatan

Because of the sharpness of down move, I start to look at the structure between aqua lines as a running flat. It was always one of the possibilities but I wasn't expecting. Now I'm waiting for a correction to close my trade at least some profit.

19 Mar 2018

Trading ditutup: stop tercapai