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krugman25

A strong bullish pin off of a key support

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
krugman25 Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns
4
0
trendanalysis chartpattern
A strong bullish pin formed off of a key support level that formed from the last swing low. Volume increased into the bar signalling increased buying into the setup. Also formed at a key price level 0.75.
Trade active:
I am long @ .7490. Entered at a 50% retrace of the pin bar.
Comment:
This is far from a sure bet due to the strong bearish trend in the short term, but still a very nice reversal signal with reversal potential.
Comment:
There has been some short term bullish development with a double bottom that has formed over night. View my analysis on that setup here
AUDUSD Double-Bottom showing bullish strength
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