AUDUSD Short-Term Buy and Then Potential BIG Sell
Good morning everyone,
AUDUSD pair looks like it's giving one more opportunity for a short-term buy.
Several corrections for further buys since the march lows are depicted in the chart , although one should start looking at buys more carefully - either using trailing stops or simply put every upside breakout to break even right away. After what I believe could be the last buy chance before a bigger correction develops, I would look for sell setups as soon as price reaches the level signaled as February 2019 High.
On the technical indicators side, we can see the daily RSI very close to the 75 level (in oversold levels , even for my more stretched than usual (25;75 instead of 30;70) levels) and it should further advance if the last buy actually develops. Therefore, this is one more argument in favour of the potential bigger correction, with the target potentially being the 38.2% retracement of the last impulse described in the beginning of the post.
Wish u all nice trades,
PTFX
Disclaimer
This post does not provide financial advice. It is for educational purposes only :)
AUDUSD pair looks like it's giving one more opportunity for a short-term buy.
Several corrections for further buys since the march lows are depicted in the chart , although one should start looking at buys more carefully - either using trailing stops or simply put every upside breakout to break even right away. After what I believe could be the last buy chance before a bigger correction develops, I would look for sell setups as soon as price reaches the level signaled as February 2019 High.
On the technical indicators side, we can see the daily RSI very close to the 75 level (in oversold levels , even for my more stretched than usual (25;75 instead of 30;70) levels) and it should further advance if the last buy actually develops. Therefore, this is one more argument in favour of the potential bigger correction, with the target potentially being the 38.2% retracement of the last impulse described in the beginning of the post.
Wish u all nice trades,
PTFX
Disclaimer
This post does not provide financial advice. It is for educational purposes only :)