Possible beginning of accumulation on AUD/USD
Hello my beauties.
I noticed that the pair has come to a nice selling climax, and given the strength of the AR (automatic reaction) in proximity of the long term bearish trendline that was broken to the upside, I see this as a possible accumulation. Personally, I will wait for a nice spring below the TR (trading range, in red) to enter a long trade and gain some nice profit. We are going to wait for further development of price action to take the trade, and wait for a nice buying opportunity below the bottom red line.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
I noticed that the pair has come to a nice selling climax, and given the strength of the AR (automatic reaction) in proximity of the long term bearish trendline that was broken to the upside, I see this as a possible accumulation. Personally, I will wait for a nice spring below the TR (trading range, in red) to enter a long trade and gain some nice profit. We are going to wait for further development of price action to take the trade, and wait for a nice buying opportunity below the bottom red line.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
