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UnknownUnicorn8714085

AUDUSD - 50% Fib Rejection.

Long
Australian Dollar / U.S. Dollar (FOREXCOM:AUDUSD)  
UnknownUnicorn8714085 Updated   
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators AUDUSD audusdlong Fibonacci Retracement swingtrading 500 Fibonacci Retracement
4
0
trendanalysis chartpattern indicator audusd audusdlong fibonacciretracement swingtrading 500fibonacciretracement
AUDUSD - 50% Fib Rejection. The recent uptrend structure on AUDUSD had formed a great opportunity to utilise the Fibonacci Retracement tool. After dragging the tool from the swing low to the swing high, we can see that price is now rejecting from the key 50% level which could act as a strong injection of bullish momentum. With this being said, I am entering a long trade with a great R:R of 1:4. If price can reach my TP, it will result in +212 pips.
Trade closed manually:
+77 Pips.
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