This is a post news trade set-up. After negative AUD news (minutes of the Monetary Policy meeting, AUD weakened considerably. After driving up she entered a consolidation range between 1.83277 (high) and 1.8305 (low). A low risk entry can be made at 1.83008 (low + 1 + 2 pips for spread)
Entry = 1.8308
Stop = 1.8288
Risk = 20 pips
PT = 1.8408
Reward = 100 pips
RRR = 5-1