Trade photo.

It's a relative fundamental trade, based on a still 'hawkish RBA' and a 'dovish' BOC. Placed in a risk environment I would say is neutral / mildly positive.

The chart has momentum, breaking out of 1hr resistance. It's a 30 pip stop loss with 45 pip profit target. The stop loss is behind a 'previous' 1hr swing. Although not the most recent swing. But if the price falls that far, I'm happy to concede defeat.

The risk to the trade is simply a return to negative sentiment.

Feel free to email any questions: johnelfedforexblog@gmail.com