AudUsd Analysis Short-Medium Term
This is an interesting setup, price made a lower low 0.7166 (Monday's low)
The significant part is the behavior of price after the Low was confirmed, making two clear higher highs. Although, the current price has traded below Monday's low, WT_Cross is well above Oversold level thereby creating a clear divergence in Price and Key trend technical.
This is a powerful setup, in any trade, you must wait for confirmation and a clear risk must be assessed. We will go long after the WT_CROSS signal cross up, Price close positively above the 8EMA signaling a bullish momentum. Stop Loss is below todays low 0.7155.
Initial Target is 0.7240 area with further gains later towards 0.7260.
The significant part is the behavior of price after the Low was confirmed, making two clear higher highs. Although, the current price has traded below Monday's low, WT_Cross is well above Oversold level thereby creating a clear divergence in Price and Key trend technical.
This is a powerful setup, in any trade, you must wait for confirmation and a clear risk must be assessed. We will go long after the WT_CROSS signal cross up, Price close positively above the 8EMA signaling a bullish momentum. Stop Loss is below todays low 0.7155.
Initial Target is 0.7240 area with further gains later towards 0.7260.
Trade active:
Second confirmation; price closed above 8EMA. Trade is active.
Entry: 0.7180
Stop Loss: 0.7155
Entry: 0.7180
Stop Loss: 0.7155
Trade closed: stop reached:
Stop taken, failed to rally towards our first target. Trailing of stops would have resulted in breakeven or taking some profits.