Major Movers
AUDUSD Sub-Crown
March 16, 2010
Jeffrey Watkins (Fx-Enzo)
MTI 4.0 Charting on Demand serves as an all-in-one Forex charting platform and analysis tool that gives Forex traders the same accurate and reliable Forex charting tools that the pros use.
Chart Analysis
Today's highlighted major mover currency pair is the AUD/USD currency pair focusing on the 60 and 15 minute time frames.
The setup we found to trade was what we at MTI call the "Kings Crown" formation.
This formation allows for an entry at the first sight of a reversal and on the first wave up.
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Chart Analysis
For those with previous experience trading you may know this formation as the "head and shoulders" formation.
Either way the formation allowed us to take advantage of the reversal you see pictured here.
The great part about trading the smaller time frames is the equity management; trading this setup from the 15 minute chart minimized our risk and maximized our potential profit.
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Analysis
Should we have taken advantage of this formation from either the 60 or 15 minute charts we could have reached a potential profit of 60-70 pips or more.
As a trader and an analyst it is your job as well as mine to constantly search for the best possible trade setups while constantly protecting ourselves financially.
An uneducated trader will always pay the educated trader, so as you pursue your new trading career make sure your not paying the other guys out there!
All of the analysis is done using the MTI 4.0 charting software, practice these, and other great strategies for FREE, by downloading a 14 day trial of MTI 4.0 charting.
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