As we can see in my analysis, AUDUSD just formed a shooting star right on the trend line and it happens to be right on the 61.8 retracement. Also, the bearish RSI divergence suggests that this pair might go down a bit until it hits the daily trend line (which is an uptrend). Until then, in my opinion, this pair is going down. However, we must be aware that a break of the H4 trend line is possible, so risk management is crucial.
Always combine my analysis with your own.
Always combine my analysis with your own.
Comment:
For those who entered the trade, we are 25 pips in profit. If you want your trade to be risk free, move you stop loss to breakeven.
Comment:
I moved my SL to breakeven since this downwards movement that put us in profit could simply be a pullback to the 0.7765 support before a bigger upwards movement. If it breaks this support, this pair will probably hit our TP. If not, our positions will close at breakeven :)
More analysis to come for next week!
Have a good weekend
More analysis to come for next week!
Have a good weekend
Trade closed manually:
I closed my positions with 15 pips in profits! 1 hour time frame didn't look good, which is why I took what was left of profit. See you guys on my next analysis :)
Comment:
+ 80 pips for those who are still in this trade! WIsh I had kept my positions open haha... keep catching this pips guys, more analysis to come.
Trade closed: target reached:
+125 PIPS!:)