Intraday: Long AUD/USD as it approaches demand zone
Note: First setup of 0.7213 triggered as we are posting this article.
Reason:
1. Prior consolidation before upmove, shows strong hidden buying activities - buyers will be likely to defend their positions at this level
2. Pinbar rejection of lower prices at the level - shows buyers had taken control before pushing the price even higher after accumulating enough positions
EP: 0.7213, 20 pips tp/sl
Second Setup:
Reason:
1. Accumulation zone before strong upwards movement
2. Prior resistance turned support
EP: 0.7192, 20 pips tp/sl
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Reason:
1. Prior consolidation before upmove, shows strong hidden buying activities - buyers will be likely to defend their positions at this level
2. Pinbar rejection of lower prices at the level - shows buyers had taken control before pushing the price even higher after accumulating enough positions
EP: 0.7213, 20 pips tp/sl
Second Setup:
Reason:
1. Accumulation zone before strong upwards movement
2. Prior resistance turned support
EP: 0.7192, 20 pips tp/sl
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Comment:
2 trades - 1 TP, 1 SL. Breakeven :)