FX:AUDUSD   Australian Dollar/U.S. Dollar
85 0 4
Long position on this pair for a number of reasons:

1) Simple uptrend on both daily and weekly charts with higher lows and highs.
2) Break of counter trend line and retest rejecting 0.618 retracement .
3) We've pulled back from a false breakout around 0.7700 levels into previous support.
4) Upon retest of the outside of the counter trendline , support and 0.618 fib level, price has formed a morning star pattern indicating a strong reversal.
5) On the 4 hour chart, we have 2 bullish engulfing candles.
Trade closed: target reached: Trade closed early for 58 pips profit around resistance zone as reversal looks like it's in the works.
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