Hi guys,
just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i go into details searching for reasons to go short/long.
In this case you can see on the 4hr chart we have an AB=CD pattern already completed at a psychological number (0,7500) together with a 382 fibonacci retracement (of the bigger daily leg) and an RSI divergence.
In conclusion, i'm waiting a little pullback in order to get a better entry and therefore a better risk to reward ratio.
Hope you like it!
If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i go into details searching for reasons to go short/long.
In this case you can see on the 4hr chart we have an AB=CD pattern already completed at a psychological number (0,7500) together with a 382 fibonacci retracement (of the bigger daily leg) and an RSI divergence.
In conclusion, i'm waiting a little pullback in order to get a better entry and therefore a better risk to reward ratio.
Hope you like it!
If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached:
First target hit! Stops at break even.
Trade closed: target reached:
Second target hit!