AUDUSD - LONG
Why are we entering?
- Expecting AUD strength and USD weakness
- In a bigger parallel channel and approaching channel support
What are we waiting for to happen?
- Waiting for price to tag the channel support
- a break of WFB
What is our confirmation?
- a 4H bullish candle at the channel support
- WFB confirmation for safe entry
- Break of 4H EMA
Entry
Safe Entry: Bounce off channel support and then WFB and 4H EMA
Risk Entry: Bounce off channel support
Once entered, where will our Stoploss be?
- Below the rejected price
Where do we take profits?
- First TP: 0.741
- Second TP: 0.755
Why are we entering?
- Expecting AUD strength and USD weakness
- In a bigger parallel channel and approaching channel support
What are we waiting for to happen?
- Waiting for price to tag the channel support
- a break of WFB
What is our confirmation?
- a 4H bullish candle at the channel support
- WFB confirmation for safe entry
- Break of 4H EMA
Entry
Safe Entry: Bounce off channel support and then WFB and 4H EMA
Risk Entry: Bounce off channel support
Once entered, where will our Stoploss be?
- Below the rejected price
Where do we take profits?
- First TP: 0.741
- Second TP: 0.755