Hi! Finally the market gave us a good trade to jump in. We had several occasions today, I 
know that the good deals happens often all in the same moment because of the correlations between the pairs; that’s why I prefer to trade only one pair a day. Today between Eur/usd, Gbp/usd, Usd/jpy, Usd/chf and so on I decided to enter on Aud/usd because it has the next resistance far from the entry and is a good uptrend.
You find the attached chart with the details below.
As you can see we had a breakout of the previous resistance at 1.0750. The next day price formed an inside day so we can jump in the long trade at the breakout of the mother candle. The price has no resistance until 1.10. My Take Profit is at 1.1070 but we will start look at the price reactions after 1.10. I decided to put my SL under the inside bar instead of the mother candle low because of a better risk:reward
I think that if the price break the high of the mother candle there will be no problem putting the Stop loss a little nearer. I decided to set-and-forget this trade. Let’s see how it will develop.
Good night everyone.
Teachingtrading 
Comments on: "The first trade of February: Aud/usd long" (1)
[…] Unfortunately the first trade of February ended to be the first loss of the month too. Anyway I’m not so worried, like you know using a risk:reward of at least 1:2 we only need one winning trade to return in good profit. In these days I’ve been and still are very busy because of some exams I need to do on february so there will be less news here. I’ve also found a very site about price action trading I want to suggest to my readers. […]