AUDUSD Local S/R| Daily S/R| Price Action| Trend
Evening Traders,
Today’s analysis – AUDUSD – price action is trading towards a key trade location where a reversal is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- .618 Fibonacci Confluence
- Low Volume
- Trend
AUDUSD’s immediate price action is trading impulsive and is trading at a trade location that is in confluence with the Local S/R and the .618 Fibonacci, allowing for a long bias.
The current volume profile is below average, an influx is needed on the next expansion.
The trend is current up with consecutive higher low, a continuation if more likely.
Overall, in my opinion, AUDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee
Today’s analysis – AUDUSD – price action is trading towards a key trade location where a reversal is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- .618 Fibonacci Confluence
- Low Volume
- Trend
AUDUSD’s immediate price action is trading impulsive and is trading at a trade location that is in confluence with the Local S/R and the .618 Fibonacci, allowing for a long bias.
The current volume profile is below average, an influx is needed on the next expansion.
The trend is current up with consecutive higher low, a continuation if more likely.
Overall, in my opinion, AUDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee