AUDUSD: Simple trade setup - early morning pips!
Good Morning,
For this pair it seems price might be bouncing off the descending trend line and if we get confirmation of this I will go short, however if price breaks above this descending trendline then I will wait for a retest before potentially entering long.
- Both TP's are shown at the two next key support levels
- I expect price to either bounce off the first support level or break through and retest the first support level turning it into a resistance level
This is a very simple setup trying to move with the market, let me know what you think!
Good Luck!
For this pair it seems price might be bouncing off the descending trend line and if we get confirmation of this I will go short, however if price breaks above this descending trendline then I will wait for a retest before potentially entering long.
- Both TP's are shown at the two next key support levels
- I expect price to either bounce off the first support level or break through and retest the first support level turning it into a resistance level
This is a very simple setup trying to move with the market, let me know what you think!
Good Luck!
Comment:
So it seems US news had pushed the price upwards on a breakout! will be waiting for the hourly close to see if price stays above the descending trendline and then will wait for a retest before potentially entering a long position!