Pivot High

TraderHank’s AUDUSD trade update

 I called out this possible trade setup on Sunday night and I even canceled my limit orders on Tuesday but AUDUSD started to roll over at the 1.04735 area and head south in a hurry, so I put back on my trade with my first limit order at 1.0390 with a take profit @ 1.0430.  Well, the trade just completed with a nice 40 pip profit which is great on a week that this was the only trade that setup for me.  I marked up the chart pretty good giving a lesson on Major Support which early in my career I just could never get my head around this concept.  Here is the chart for my play in AUDUSD...

Click on chart to enlarge the area....


AUDUSD