MarlyForex
Long

AUDUSD -- UPDATE -- LONG ORDER

FX:AUDUSD   Australian Dollar/U.S. Dollar
218 2 18
Display: FX:AUDUSD            

Description: As shown above we have FX:AUDUSD             . Price is currently Bullish , As shown last week we had a
Rising Wedge then a break out of the wedge and a quick return which had the characteristics of a bull flag . I outlined the possibility
of a either a 50 retest or even a weekly sup retest we have had price hit the weekly and bounce straight off turning bullish .

We can now expect a test of daily resistance which could likely be followed by a break out that level in that instance we would wait
for then retest then go LONG, However there is a possibility we could see a small retracement To the 50 FIB outlined for price to set
up for a HH.

Duration: Long Term

Decision: I will go Long on this pair on the retracement or the break & close above Daily Resistance Targets Outlined.

Trade Setup:
Entry: 0.75600
TP 1: 0.77220
TP 2: 0.78400
SL: 0.74800 - 0.74600

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

Useful Information:

TREND: Bullish

INDICATORS: 50 EMA 200 EMA

ATTACHED CHART : YES
Trade closed: target reached: TP 1 Hit :)
good analysis !
Reply
MarlyForex Michael_KM
Thank you!
Reply
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