The AUD made a series of lower highs. This trade just barely made our minimum Reward to Risk of 3:1 to our Target 2. The trade moved fairly quickly to our Target 1 and we always protect that level. I forgot to mark in the “take profit” levels on the chart as the trade progressed. Not a bad trade to begin the week. Note how 2 higher lows illustrate the reversal.
Let’s hope for a good week of trading. More positive economic news releases are showing up of late. It doesn’t mean that we are out of the woods, but it’s nice to see.
Always be disciplined in your trading.
Send questions to Michael@privateforexcoaching.com