Description: As shown above we have FX:AUDUSD . Price is currently , breaking out of consolidation
from last September till early February. Since then we have consistently been making HH & HL indicating a strong .
I will now be looking for strong continuation zones or short zones, However on the 4HR from Fridays NFP we had broken Daily
Support but sharply returned the pattern i had drawn at the time was a i can now see decent setting up.
There is a possibility off another move down to Daily Supp then 0.50 Fib However if price continues its Momentum with a
break above the flag will have my full attention and a long position will be taken on the break and close above Weekly Resistance.
Duration: Long Term
Decision: I will go Long on this pair on a break & close above Weekly Resistance Targets Outlined.
TP 1: 0.78900
TP 2: 0.80000
SL: 0.76450 - 0.76300
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post you analysis below.
Remember to always trade your stratergy... Happy Trading
ATTACHED CHART : YES