Getting ready for the AUDUSD reversal at the Mid month.
At the time of writing, I am Selling due the the Psychological Line at 0.68 being respected. I am targetting the 0.677-6775 zone as that is where we have a double bottom/W formation which should give us a good indication that the up trend/reversal has started.
1st half of the month came down by 126 pips, my...
Intraday trading idea - holding 1 to 3 days
The EURUSD has hit a major support level at 1.1
The price action has formed a double bottom (W formation) on the 15-minute chart.
I believe that the price will reverse on the uptrend now, I have 4 entries set at different TP levels
looking at thee trend, a triangle has formed and the lines are ever edging towards the inner, narrow part of the triangle. A breakout is inevitable, as the pair has already hit a major support, a bounce up higher is likely.
There is a clear downtrend, the price action is bouncing between the downtrend support and resistance. It is close to the resistance and will likely go back down to the 1.3040 region within the next 24 hours