AudUSD Analysis (price action)

Hello traders, here is my analysis of audusd 1h. I think we might be seeing a new trend forming and would love to hear your thoughts about my analysis.



MY ANALYSIS:

TREND STAGE
I would consider it as matured
it has been trading bearish for a long
period of time and now seeing a break from
that trend.
1d

1h

Possible 4rr on 1h

RISK CONSIDERATION
Coming Tuesday is RBA Rate Decision and could create a high volatility

*********
POSSIBLE TRADE SETUP
CONSERVATIVE - wait for price to break above
daily resistance (breakout point daily)

or

Aggressive - go lower time fram 15m to 30m
look for fib entry 50% or 62%
price must not trade below daily pivot


confluence
- strong daily close
- trading way above daily pivot
as compared to previous price action where
it is trading within range of of pivots
- breakout above the descending trend

15M POSSIBLE AGGRESSIVE SETUP

POSSIBLE TRADE SETUP ON 15M
SL OF AROUND 15PIPS FOR A 4RR
OR A NEW TREND FOLLOWING SETUP

RISK HALF% AND SCALE IF IT BREAKS
ABOVE DAILY BREAKOUT POINT

I THINK THE POSSIBLE REWARD IS WORTH TAKING
THE RISK


Would love to hear your thoughts on the comment section below.

Thank u

Comment:

If no buying opporunities appear and market trades below daily pivot the idea is scrapped

Comment:

WELL MARKET traaded lower so we did not execute anything. we will wait for other setup. we can scrap this idea