AUD/USD Potential Long Set-Up...Providing we close above 0.71200
This idea on AUD/USD was fully broken down on my Forex Market Breakdown Volume 3 youtube video. Catch it here! :-https://www.youtube.com/watch?v=4ZWpYouQPWk
Although we still trade within daily bearish trend structure, I am convinced that price is due a pull back to 0.72000.
The monthly time frame speaks for itself, especially watching Januarys candle close it almost suggest a market manipulation move...but I will not reveal all my secrets.
0.71000 is also very key for this pair. I have marked my suggest short support zone between 0.71000 and 0.711000 as highlighted in yellow. I was expecting a pullback to this zone this week. However being more accurate, as mentioned in my volume 3 YT video, I have highlighted my long entry zone between 0.71057 and 0.71080, highlighted in blue.
This entry zone was reached and rejected today! - assuming we can break short term trend structure on this hourly close (needing a close above 0.712000) then the next stop is a successful close above the hourly 50ema. Providing these confluences are met I expect a bull rally first up to initial highs of 0.71600 and then to the moon...or more specifically 0.72000.
Although we still trade within daily bearish trend structure, I am convinced that price is due a pull back to 0.72000.
The monthly time frame speaks for itself, especially watching Januarys candle close it almost suggest a market manipulation move...but I will not reveal all my secrets.
0.71000 is also very key for this pair. I have marked my suggest short support zone between 0.71000 and 0.711000 as highlighted in yellow. I was expecting a pullback to this zone this week. However being more accurate, as mentioned in my volume 3 YT video, I have highlighted my long entry zone between 0.71057 and 0.71080, highlighted in blue.
This entry zone was reached and rejected today! - assuming we can break short term trend structure on this hourly close (needing a close above 0.712000) then the next stop is a successful close above the hourly 50ema. Providing these confluences are met I expect a bull rally first up to initial highs of 0.71600 and then to the moon...or more specifically 0.72000.
Trade closed: target reached