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
