Hope you all had a good weekend.
I've decided to share this idea because it can probably bring in some really good returns, so here is how I've analysed the long move.
Started with a strength meter analysis therefore showing the strength of all currencies and I've seen the Pound being in a much stronger position than the AUD.
Scaled into the D1 and saw price bouncing up the 1.70974 level and had a slight pull back. that also created a lop sided V formation for the uptrend therefore showing the strength of the buyers coming back into the game.
on pull back levels were still holding on the buyers momentum which is when i scaled on the H1 to see multiple test bars therefore showing the hold up of levels within the 1.72993 level.
so then verified where my S.L. should be and saw all levels where i can possibly manage my trade until exit.
Only thing to watch out for is high impact News for AUD on wed. 7.30pm so manage appropriately with shown levels.
Please comment. Tell me what you think.