TradingView
gillianpatrice
May 20, 2018 10:58 PM

AUDUSD Long update Long

Australian Dollar/U.S. DollarFXCM

Description

Price opened high during the New Zealand open.
The following are two plans that I am waiting to unfold to take the trade.
1. Price breaks up and closes through the downward sloping resistance line in the wedge.
Then when the hourly candle retests this area I will take the trade long.
2. Price heads down to the bottom of the wedge to retest the lows and fulfil the 127% extension fib of the last move and we take the trade. This trade is more unlikely to work as price may head back down to test it's daily lows.
More