Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on AUDUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...
Price made a big manipulation spike through resistance when Powell from the Fed was speaking today, this would have taken a few stop losses out that were set just the other side of this key resistance! This is a sneaky tactic the big players use.
I can only see downside movement from this level and can see the bears pushing price to 0.71900 area which is where i...
0.71900 is a strong support and resistance level as you can see from where i have marked with arrows on the chart, historically price touches this level and bounces, if you do a bit of back testing you can see for yourself. Also bulls have tried to push price through this level for the last 5 weeks failing to do so, this week i see bears taking control and pushing...
0.72000 was a key area of interest for me as resistance, yes price went 40 pips over this level but then dropped 50 pips under it as the bears push price lower my target is 0.68000 which is 350 pips away and is my next level of support.
Now this wont hit overnight so if you are looking for quick small wins then look at someone else's page, This is a swing trade...
We can see previously when price broke this level it dropped significantly to the highlighted level of support, I expect the same thing to occur
I see multiple points of divergence and price had dropped previously only to retest the area
I see a flag formation formed as well so once thats broken... BOOM big sell
Getting in this later with the following...
Previous when price broke this level it plummeted, im expecting price to do the same again now
I am waiting for support to be broken before entry but below is the signal i will use
AUDUSD - SELL
SL - 0.71552
TP - 0.64478