AUDUSD, 24/09/15 @10:23 GMT

BUY@0.6960 SL@0.6935 TP@0.7004 <=== Take this Trade from M15 Time-Frame ….OR….

SELL@0.7000 SL@0.7042 TP@0.6908 <=== Take this Trade from H4 Time-Frame AFTER UPward Correction -probably minor- is over.

Pair will make an UPward Corrective move even if it is a minor one. Seen from H4 TF, the move will reach the price level of Tenkan Sen if not higher.

This is a decent trade which we can take from M15 Time-Frame.
BUY from M15TF AFTER you make sure that :

1. a strong Bullish Candlestick closed above Tenkan Sen (ICHIMOKU Red Line)
2. Tenkan Sen is sloping UPwards.

STAY IN while M15 Candlesticks close above Tenkan Sen. EXIT when a Bearish M15 Candlestick closes below Tenkan Sen. TRAIL your SL below Kijun Sen Plateaus as price goes UP.

AFTER UPward Correction is over, SELL after you make sure that on H4 Time-Frame :

1. a strong Bearish Candlestick closed below Tenkan Sen
2. Tenkan Sen is sloping DOWN.

Don’t Trail your SL because most possibly price is going to make a Double Bottom Pattern before making a very strong Bullish Reversal. So waiting for your TP to be hit is wiser than stressing out about SL Trailing.

Happy pips!

Sofia

Leave a Reply

Your email address will not be published. Required fields are marked *