AUDUSD Trade Idea

 

by: Colibri Trader

 

The trade from last time is still active and still looking bullish. I entered in a long trade at 0.7125. The pair is showing bullish signs and there is no reason to take early profit. I am looking at the daily candle and it is a bullish engulfing that gives us even further confirmation of the buyers at these levels.

AUDUSD Trade Idea

Today’s trading idea is coming from AUD/USD. There is a very similar scenario that has formed there. The daily candle is a bullish engulfing and it actually engulfs two candles. We are just below a resistance area, but I believe we will see a breakout from these levels(0.7500). My entry is at the current market levels or on a retest of 0.7500. My stop-loss would be placed just under 0.7400. My first target is the level of 0.7580. My secondary target is the level of 0.7700.

Happy Trading,

Colibri Trader

p.s.

For the 10 most common trading mistakes that traders make, have a look at my article HERE.

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