Weekly Trading Review (week 1)

AUD/USD Hourly

Australian dollar break new high.. Still an uptrend, one thing i learned from my experience is never ever trade against the trend for this currency, when there's a strong trend, better follow it, and no such thing as too high, just follow the signal (fractal, alligator, AO), wants what the market wants...

Missed last week up trend, but didn't miss this second change.. Same pattern as last week.. Price went up, then it correct for a while, then it continue to moves up (break up fractal above red line)..

Start with fractal no 1, didn't take it, too risky for me, but if you're aggressive you can take it..
I took fractal no 2 breakout at 1,0767, fractal no 3 at 1.0792 and got stopped out at 1.0804 (break down fractal), made a total profit of 49 pips..

Then the market correct not for long until it continue to go up and break fractal no 4 at 1.0832 and fractal no 5 at 1.0882. I got stopped out at 1.0907 (break down fractal), made a total profit of 100 pips..

Didn't take fractal no 6 and 7, I thought i let it correct for a while since the AO already peak (wave 3) and also there's a divergence. I expect a wave 4 but it continue to go up.. oh well i might miss the next up trend, for now i'll just wait and see for next opportunity..

Let's look at the pattern below, just follow the wave...

AUD/USD Hourly