AUD/USD Bull Flag on Bull Flag (Read Comments and Updates!)

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
The Aussie Dollar is displaying a nice setup for long trades:

1) We can see a broken bull flag (outlined in pink) that has already been retested.
2) On top of the large pink bull flag , we see a secondary bull flag (outlined in blue) that has not yet been broken.
3) RSI is NOT in overbought territory, which gives us room for further bullish moves.

Trade Setup
Higher Risk: Open buy now, set stop loss below .706
Lower Risk: Wait for break of blue bull flag and set stop loss below .714

Take Profit Levels are shown in red and labeled in black text boxes.
By structure swap rule, these TPs are previous supports that should become future resistance levels.
Comment: Sorry for the misleading information!
Take Profit Levels are the black horizontal lines labeled with black text.
Support levels (Stop loss) are the red horizontal lines that are unlabeled. I mention the exact price levels for SL above.
Comment: Take profit 1 hit!
Comment: Take Profit 2 hit!
Comment: We see a nice retest and bounce off of the .72 level. I expect further movement upward
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out