NBent
Long

Look to Rejoin Bulls on Corrective Pullback to Major Support

FX:AUDUSD   Australian Dollar/U.S. Dollar
Very easy setup. AUDUSD             is currently in a medium term uptrend. Dating back to early March, the 0.7400 - 0.7420 handle initially acted as resistance. Price then broke through and found support at this same level (blue boxes). Since then, price has created 3 new highs off of this support level (orange boxes).

Look for another bounce off of the 0.7400 - 0.7420 level in anticipation for further continuation of the bull trend.

Like this idea? Hit the thumbs up!
And follow me for more simple trading ideas like this.
Post any questions you have in the comments.

Happy Trading,
Nazar.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out