So after my analysis on AUDGBP earlier, we can see that the price action has return to retest the new support.
We now switch to the 15 minute chart for our entry. So on the 15 minute chart, the price action will rise to breakout at point B and will form a higher high (Point C).
Then it will retrace to make a high lower and retest the support (At point B Breakout) point D. Then enter upon the breakout of point C placing our stop at point D.
Remember your stop should only lose you 1-2% of your account. risk management is key to not losing your account.
Happy Trading - The Trading Box
We now switch to the 15 minute chart for our entry. So on the 15 minute chart, the price action will rise to breakout at point B and will form a higher high (Point C).
Then it will retrace to make a high lower and retest the support (At point B Breakout) point D. Then enter upon the breakout of point C placing our stop at point D.
Remember your stop should only lose you 1-2% of your account. risk management is key to not losing your account.
Happy Trading - The Trading Box