Highly Reliable MT4 Expert Advisor
Click Here to learn more….
In this H4 time frame, we can see clearly that the AUDUSD has been on the long down trend since late Nov 2018. At the moment, we are seeing that the market structure has been disrupted and AUDUSD has been in consolidation since 21st Dec 2018. This might be a sign of reversal or just the Bears taking a breather before resuming their downward charge. From 4th Dec to 14th Dec 2018, a similar consolidation happened which might have given the bulls some hopes but then the Bears came in with renewed strength to hit AUDUSD to new lows. Can it happen again?
Are you still finding it difficult to profit from the market?
If you want help, then click here to learn more…
So this is the we will not want to guess which way the market is moving. We just want to be ready when there is a breakout to either direction. In this Breakout Trading Strategy for AUDUSD, we will be entering into 2 Stop Orders… Buy Stop and Sell Stop orders and then we just wait.
Here’s the first Buy Stop Order:
- Buy Stop Order: 0.70800
- Stop loss: 0.70600
- Take profit: 0.70900
Here’s the Sell Stop Order:
- Sell Stop Order: 0.70100
- Stop loss: 0.70300
- Take profit: 0.70000
Recommended Position sizing: 0.10 for Every One Thousand in your portfolio
If you have entered the orders correctly, then we are waiting for a breakout to happen either on the long or short side. Your MT4 screen should look like this.
Now we just wait for the levels to be breached and with some momentum, we should TP and exit the trade.
Scan the Entire Market for the Best Price Action Setup
If you find our content useful to your trading, please help us share our content as it might help other traders. And they will also thank you for sharing great content to them.
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.
Other Analysis Today