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Trading Idea AUD/USD

Posted on Mar 2nd, 2015

by colibritrader

Dear Trading Idea Traders

Last week was full with good trading ideas. I recommend that you check again the trades from last week. The one that gave the biggest return was DAX. Once again indices are outperforming other instruments.

Today’s trading idea is coming from the AUD/USD. It is actually a trading idea that formed last week on Thursday, but I believe that there is a great potential for this trade to work out. On Thursday last week there was a bearish engulfing candle on the daily timeframe. The price has not gone that far away and I am looking to enter into a short trade today at around 0.7800. My stop would be placed just above 0.7915. The first price target for this trade is at the level of 0.7600. After that, it depends on how price plays out. I will also try using my intraday strategy in order to minimise risk. Sometimes this intraday price action strategy gives me great risk:reward entries, which are able to return 1:10 and over risk:reward ratios.

Happy Trading,

Colibri Trader

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