AUDUSD: Potential uptrend continuation

FX:AUDUSD   Australian Dollar / U.S. Dollar
I went long recently, 2 days ago, but closed earlier today.
I'm reentering longs here, you can either use a stop at the suggested price on chart, or under the recent swing low, or based on ATR. I leave it up to you.
There's a chance for price to resume the uptrend, so I'd let the trade breathe until we can confirm that is what's going on.
Entering at market is ok, risk half and add more if we get a dip tomorrow..

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Comment: Price decided to prove me wrong instantly after the daily close. Can be stressful to watch, but not a problem. The stop isn't hit, so we'll let the trade run for a while.
Trade closed: stop reached: Stand aside for now, if this level failed, it could turn ugly, either go sideways, or resume the move down for now. But not something I'd want to be involved with, since it's not too clear.
Trade active: I went long again, stop loss at 0.71394. Entry: 0.72307

Copper can shed some light here. It's at a good support level, once it moves back above the mode (see volume profile's volume mode, and also the time at mode level in light blue) it can rally and retest the recent peak at least.
Agree bullish pin !
Let's see if we get it this time! Cheers :D
Yes..just finished.bearish cypher
Post the chart, no idea which you refer to.
I'll wait a bit but it could still go up after basing here.
Thanks for all information. GL
+1 Reply
IvanLabrie ViliusJacikas
You're welcome!
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