AUDUSD Example of our winning trade with a Low risk high reward entry

AUDUSD Example of our winning trade with a Low risk high reward entry

As per my trade setup posted this morning, price actually reacted very well.

- We got a 3 to 1 win (Risk 9 pips, and gained 27 pips)

Note - closed my trade, although i still see a new high in the aussie

Here i'd like to share with you a very good strategy when entering trades.

Steps

1) Wait for Price to react from the level (best is 15% of 5 day ADR)

2) Enter at a 61.8 or 78.6 with stops at PRZ (few pips below)

• By doing this, you already eliminate the chance of price shooting through your anticipated level of reversal, so your chances / odds increase dramatically
• For scalpers, your win rate should be around 90% of the time if you take 1risk:1reward , usually we get 1:2

*If price doesn't get to fill our entry, doesn't matter! find another trade!

Advanced considerations

- If US Dollar pair, check the US Dollar Index Chart

- If Yen check the nikkei

- Also look at a highly correlated pair

 Happy Trading!