T12 – AUD/USD

12

ENTRY

Daily // 4H // 1H // 30m // 15m

Analysis

get context for the set-up

Range on daily. Broke out of support and retested the area 0.75 round number. Price found resistance with a pinbar on daily and the confluence of 200SMA on the 4H.

The corrective structure was stretched and the assumption of its completion led to a loss previously at T7.

Criteria

TREND on entry timeframe determined by SMA if subjective (✓)

IMPULSE registering ADX>25 (✓) ADX38

COIL structure clear formation relative to prior impulse (✓)

Continuation/Correction/Coil Structure

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

ABC (5-3-5) // ABCDE // Extended Combo

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 1.8R

Entry: 0.747 | Stop loss: 0.754 (-70 points) | Take Profit: 0.734 (+130 points)

Remarks: Take profit level could be extended to next support. But 1.8R + higher probability of success would be good in the long run.

MANAGEMENT

download (7).pngIf price breaks out favourably, risk halved

download (5)If two-thirds of anticipated impulse, shift to break even

If breakout + strong momentum + space to run, extend take profit and use trailing stop.

EXIT

download.png

Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

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