AUDUSD 1x long position, 2x long orders, great risk/reward

٨ أبريل ٢٠١٦

Everything is marked on the chart. The idea here is to play on the EMA 25/50/100/200, as well as TL from weekly, fibonacci from weekly and daily and support for weekly. The position I have entered is mainly entered because of the price acceptation of the EMA 25 and fibonacci 23.6, with SL below yesterdays candle. Order 1 is based on fibonacci 38.2, and order 2 is based on Fibonacci 50, as well as TL from 2001 and Fibonacci from weekly. I am trading against the dollar, based on the weakness of the dollar index (Mentioned in an earlier post).

Position:

Enter: 0.754
Stop loss: 0.749
TP: 0.77

Order 1

Enter: 0.739
Stop loss: 0.735
TP: 0.77

Order 2:

Enter: 0.728
Stop loss: 0.722
TP: 0.77