In the case of AUDUSD, the Stochastic Oscillator is giving an oversold signal for the AUD/USD currency pair. The %K and %D values you've provided (8.83% and 5.15% respectively) are both well below 20, which further emphasizes the oversold condition. Additionally, the BEARISH TREND weakens in the short term which supports a short-term uptrend. However, it is important to remember that this is a lagging indicator and might not predict future price movements perfectly. Also, an oversold market can remain oversold for a long time, just as an overbought market can stay overbought for a long time.
while the Stochastic Oscillator might suggest a potential upward price movement in AUD/USD due to the oversold condition, it's recommended to use this in combination with other technical analysis tools, market fundamentals, and risk management strategies to validate the signal and make more informed trading decisions. It's always important to consider the broader market conditions, including geopolitical events, economic data releases and other factors that might influence the forex market.
Moreover, please note that any form of trading involves a substantial risk of loss and is not suitable for everyone. Always consult with a financial advisor before making investment decisions. THIS IS NOT FINANCIAL ADVICE!!
while the Stochastic Oscillator might suggest a potential upward price movement in AUD/USD due to the oversold condition, it's recommended to use this in combination with other technical analysis tools, market fundamentals, and risk management strategies to validate the signal and make more informed trading decisions. It's always important to consider the broader market conditions, including geopolitical events, economic data releases and other factors that might influence the forex market.
Moreover, please note that any form of trading involves a substantial risk of loss and is not suitable for everyone. Always consult with a financial advisor before making investment decisions. THIS IS NOT FINANCIAL ADVICE!!
Trade active:
Looking to take first profit at .66205 ---- TP1
Looking to take Second profit at .66436 ---- TP2
Looking to take Third profit at .66650 ---- TP3
Looking to take Second profit at .66436 ---- TP2
Looking to take Third profit at .66650 ---- TP3
Trade active:
TP 1 Reached. Price is expected to move up & retest before moving up further to the upward direction to TP2 .66436
Trade active:
This trade has now been converted into a bigger long position as additional has now presented itself
