AUDUSD faces a strong support if an AB=CD pattern is finished
Evidences:
1. Potential AB=CD
2. A support that has tested successfully for 4 times.
3. Also a demand zone (pin bar at that position), showing a strong buy force.
But:
1. A potential inverse cup and handle may be formed after a short rebound.
So:
Do not expect to hold the long position for too long if AB=CD is finished.
1. Potential AB=CD
2. A support that has tested successfully for 4 times.
3. Also a demand zone (pin bar at that position), showing a strong buy force.
But:
1. A potential inverse cup and handle may be formed after a short rebound.
So:
Do not expect to hold the long position for too long if AB=CD is finished.
Trade closed: target reached