AUD At Bottom of Range in Uptrend
AUDUSD has been in a range since mid-March, but has been in an uptrend since the start of the year. Now, the pair is at the bottom of the range, sitting just above the 50 SMA. This same trade worked out well for me several weeks prior, and the technical logic is still applicable, so I thought I'd try again. I'm entering at 9331, with my stop at 9302 and my target profit at 9428. I'm risking 29 pips to gain 97, which gives me a reward/risk of about 3.34.
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