This has hit take profit on my previous posts for this pair. Now looking for a move that will give another chance the re-enter a long. Either this will continue to rise through resistance and then when it retraces and tests that level as support a long can be entered. Or it will retrace from the current price and offer a lower level to enter, although this is...
Since my last update on this pair it has broken out as I expected. It is now retracing to the neckline marked with the blue line, this would be another chance to long if you are not already longing this pair. My target on this is 0.80548 although if you are looking for a more short term trade then the previous top of 0.78203 is also a good TP to aim for.
This seems to have held at support and is now looking safe to go long on. EMA's are about to cross, MACD is still below 0 but looks like a strong upward movement is happening to take it back above. You could wait for a couple more candles to close for confirmation of this if cautious. TP is set at 0.80548 although there are higher peaks at this level. SL just...
AUDUSD has been travelling in a descending channel, however it has broken out to the upside. Another few confirmations of a long trade was the Higher High made and the major support zone price just tested and bounced from which caused it to breakout of the channel. Price will now come down to retest the channel, and then make its way up to 0.70100 region.
Market getting ready to change trend for a buy .
RSI signalling oversold area at 40 reading.
RSI reading 20-40 is in oversold area.
Wait for bottom area highlighted to get in on buy and enjoy your profits.
Market often forms a double bottom/top to signal trend reversal so look out for this.
Warning; trading comes with risks, trade safely and within reason....
AUD USD, Thanks to Trump, for giving a great opportunity for a long.
A retest of the Trend line
Retest of 0.71550
61.8% FIB aligned with 0.71550 and the trend line. Increase the success probability of the set up
I hope this trade help you guys.
All of the best
A simple candle formation here, Aussie pushed out of the wedge during the Asian session and has maintained a strong upside movement through the remainder of today. I will be taking this pair up to the previous high of 0.77657 . A buy order outside of the wedge would have entered you into the trade whilst you slept and now into deep profit. Simple simple simple chart work.