AUDUSD is currently breaking the lower high area of the descending channel on the daily timeframe. Additionally, a Cup and Handle formation is visible on the 4-hour chart, indicating a potential bullish continuation.
π Expectations:
Anticipate the pair to re-test key support levels as highlighted in the attached chart.
π Trading Strategy:
This trade is based on a combination of technical analysis and candlestick patterns. It's a long-term position, so ensure sufficient margin to manage market fluctuations. Implement proper risk management in line with your account size.
π¦ Trading Rules:
1οΈβ£ Rule 1: When the market hits Target 1, consider closing some positions or move your STOP LOSS to ENTRY price for safe trading.
2οΈβ£ Rule 2: After reaching Target 1, avoid placing new trades based on the same signal/alert.
3οΈβ£ Rule 3: If the market consolidates for more than 2 days, close the trade and patiently wait for the next favorable trading opportunity.
π£ Like and Share for More Insights! πβ¨
π Expectations:
Anticipate the pair to re-test key support levels as highlighted in the attached chart.
π Trading Strategy:
This trade is based on a combination of technical analysis and candlestick patterns. It's a long-term position, so ensure sufficient margin to manage market fluctuations. Implement proper risk management in line with your account size.
π¦ Trading Rules:
1οΈβ£ Rule 1: When the market hits Target 1, consider closing some positions or move your STOP LOSS to ENTRY price for safe trading.
2οΈβ£ Rule 2: After reaching Target 1, avoid placing new trades based on the same signal/alert.
3οΈβ£ Rule 3: If the market consolidates for more than 2 days, close the trade and patiently wait for the next favorable trading opportunity.
π£ Like and Share for More Insights! πβ¨