AUDUSD BUY - High probability trade
Hi Everyone, it's been a while but I'll slowly get back at posting my trading ideas here.
Today's setup is on AUDUSD.
AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level.
My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a support to continue to move price up!
I'm placing my stop loss below the Order Block that broke recent structure - in case the market does not respect that level, this setup will no longer be valid and we should look for another opportunity.
However, I think this is a great trading idea with added confluences!
Let me know your thoughts!
Good luck!
Cheers,
Gaspar_Trader
Today's setup is on AUDUSD.
AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level.
My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a support to continue to move price up!
I'm placing my stop loss below the Order Block that broke recent structure - in case the market does not respect that level, this setup will no longer be valid and we should look for another opportunity.
However, I think this is a great trading idea with added confluences!
Let me know your thoughts!
Good luck!
Cheers,
Gaspar_Trader
Trade active
Trade closed: target reached:
Target Reached without any concerns at all.
L.G