In this technical analysis, we will assess the AUD/USD currency pair's recent price action, specifically focusing on the daily pivot point and exponential moving average (EMA). By adopting a disciplined and systematic approach, we aim to identify a potential long position opportunity based on the break of the daily pivot point and subsequent price closure above it. Additionally, we will incorporate dynamic risk management principles to further enhance our trading strategy.
As observed in the AUD/USD chart, we note that the currency pair has successfully breached the daily pivot point, a crucial level widely recognized by market participants. This upward movement beyond the pivot point signifies a shift in market sentiment, suggesting potential bullish momentum.
To validate the bullish bias initiated by the pivot point breakout, we turn to the Exponential Moving Average. The EMA is a commonly used technical indicator that smooths out price fluctuations and provides valuable insights into the prevailing trend. In our analysis, we anticipate entering a long position on the M15 time frame once the price has conclusively closed above the EMA.
In conclusion, the AUD/USD currency pair has displayed a noteworthy price breakout above the daily pivot point, suggesting a potential bullish trend. To confirm this hypothesis, we intend to await a definitive price closure above the EMA on the M15 time frame before initiating a long position. By adhering to rigorous risk management principles, we aim to mitigate downside risk and maximize our profit potential. It is important to note that thorough analysis and careful consideration of market conditions should always be undertaken before executing any trading decision.
As observed in the AUD/USD chart, we note that the currency pair has successfully breached the daily pivot point, a crucial level widely recognized by market participants. This upward movement beyond the pivot point signifies a shift in market sentiment, suggesting potential bullish momentum.
To validate the bullish bias initiated by the pivot point breakout, we turn to the Exponential Moving Average. The EMA is a commonly used technical indicator that smooths out price fluctuations and provides valuable insights into the prevailing trend. In our analysis, we anticipate entering a long position on the M15 time frame once the price has conclusively closed above the EMA.
In conclusion, the AUD/USD currency pair has displayed a noteworthy price breakout above the daily pivot point, suggesting a potential bullish trend. To confirm this hypothesis, we intend to await a definitive price closure above the EMA on the M15 time frame before initiating a long position. By adhering to rigorous risk management principles, we aim to mitigate downside risk and maximize our profit potential. It is important to note that thorough analysis and careful consideration of market conditions should always be undertaken before executing any trading decision.
Trade closed: stop reached
Comment:
today i am not in the sync with the market ...