AUDUSD – Trading at historical highs
The AUDUSD is trading at historical highs, yesterday it broke through an important LT resistance level triggering a bullish market condition:
For sure we need to be looking for long opportunities, but where should we set the TP order?
When the market is either trading at historical highs or historical lows, I use a 3:1 risk reward ration, because its impossible to predict where the market is going to retrace. And of course, I help myself with position management.
Trade Safe!
Raul Lopez
Forex Training