Trade Overview
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- The trade discussed is on the AUDNZD pair, and it closed with a 40-pip profit.
- The analysis is based on end-of-day trading using Trend Signal Plus, a strategy applied since 2011.
Market Conditions
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- The market for AUDNZD has been relatively flat since around November or December.
- Despite the flat market, there are potential opportunities within the volatility generated in this range.
Trade Analysis
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- The focus is on a specific trade initiated on January 19th, where the strategy involved identifying a price action trapped within a range and anticipating a snap back to the midpoint.
Trade Management
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- The trade was executed with a stop loss of 55 pips and a take profit of 40 pips, and we've noticed they are already in profit.
- We note the potential to extend targets beyond the initial 40 pips and mentions the possibility of gaining up to 83 pips.
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