AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: AUDUSD has been very bullish on all major timeframes. Price action is now currently rallying and has not yet formed structure. We want to trade with the trend so we’re going to wait for a pullback to 0.76800 & our 38.2% fib level. Look for a confirmed higher low with conviction to enter on. Target higher toward key resistance and negative fib levels.
Trade scenario 2: For us to consider AU Bearish we want to see a lower high form below 0.76800. Look for strong bearish setups to confirm the lower high and enter short. Look to target lower toward key support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: AUDUSD has been very bullish on all major timeframes. Price action is now currently rallying and has not yet formed structure. We want to trade with the trend so we’re going to wait for a pullback to 0.76800 & our 38.2% fib level. Look for a confirmed higher low with conviction to enter on. Target higher toward key resistance and negative fib levels.
Trade scenario 2: For us to consider AU Bearish we want to see a lower high form below 0.76800. Look for strong bearish setups to confirm the lower high and enter short. Look to target lower toward key support levels.