Swing Trading Strategy AUDUSD – 19th April 2019

Swing Trading Strategy AUDUSD – 19th April 2019 (Updated with Results)

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AUDUSD made a breakout at the level of support of an up trending channel on the H4 chart. The price started having correction and a significant level of resistance is nearby. If that level is held and it ends up producing an H4 engulfing candle, then and H1 breakout at yesterday’s lowest low would drive the price towards the South. Let us have a look at the H4 AUDUSD chart.

This is another trade idea generated by the Elite Swing Trader.

Swing Trading Strategy AUDUSD – 19th April 2019

Swing Trading Strategy AUDUSD – 19th April 2019

As the chart shows that the H4 chart took a strong bearish move and then it started having a correction. The level of 0.71570 has the potential to be the level of resistance. The price reacted to this level on a number of occasions. If the level is held and it produces an H4 engulfing candle, then an H1 breakout at the level of 0.71370 would drive the price to go towards the level of 0.71000 without having that many pauses. Let us have a look at the summary of the trade…

  • Sell Stop Order:  0.71358
  • Stop Loss: 0.71559
  • Take Profit: 0.71003

The Channels that we usually get from trading platforms are fantastic tools to be used in trading. Especially, Equidistant Channel is one of the best tools to be drawn and analysed. It works both ways too. I mean when price stays within channel, traders trade with the trade. When a breakout takes place, they go other way round without having less confusion about the breakout.

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Swing Trading Strategy AUDUSD – 19th April 2019 (Updated with Results)

Below is the result of this trade in AUDUSD. Some of our users are still holding on to the trade and have 100 pips of paper profit.
If you like breakout trading approach or Momentum trading, then The Elite Swing Trader is a highly reliable trading approach that you can employ.

Swing Trading Strategy AUDUSD – 19th April 2019 (Updated with Results)

Swing Trading Strategy AUDUSD – 19th April 2019 (Updated with Results)

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