AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall price action is still very bullish on all significant timeframes but recent price action on the 4hour has been consolidating between 0.76750 & 0.78000 area. We’re looking to continue with the bullish trend but we need to see the right confirmations. Ideally we want to see a break and retest of 0.77400 with a confirmed higher low above. Look to enter long after bullish confirmations present themselves after the higher low. Target 0.78500.
Trade scenario 2: For us to consider short scenarios we need to see a 4hour transition occur. Look for a break and retest of 0.76750 with a lower high. Target lower toward major levels of support.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall price action is still very bullish on all significant timeframes but recent price action on the 4hour has been consolidating between 0.76750 & 0.78000 area. We’re looking to continue with the bullish trend but we need to see the right confirmations. Ideally we want to see a break and retest of 0.77400 with a confirmed higher low above. Look to enter long after bullish confirmations present themselves after the higher low. Target 0.78500.
Trade scenario 2: For us to consider short scenarios we need to see a 4hour transition occur. Look for a break and retest of 0.76750 with a lower high. Target lower toward major levels of support.