akyong
Long

AUDUSD: Several confluence in the zone

FX:AUDUSD   Australian Dollar/U.S. Dollar
We have two advanced pattern forming, at the same time a structure zone as well as an upward trend line.

With all this inline, we might potentially see price bounce back up to 0.7785 level or even higher towards the 0.7840 region.

A break below all these confluences will however confirmed that the bearish trend is still very much intact.

I would love to hear your opinion, feel free to comment, agree or disagree.

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KY
Chief Currency Strategist
Alpha Play Forex Trading School - www.alphaplay.com.sg
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multiple patterns audusd long opportunity

the completion of a bat pattern is connected with the trend line support breakout. This breakout may turn the bat into a loser. On the other hand, if we don't have price breaking the support trendline, then the Bat pattern will never be completed. Avoiding patterns, the completion of wich is connected with support/resistance breakouts will make you more profitable. Know your edge and act accordingly taking only the best opportunities)
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