Fxprotrader
Long

AUDUSD: Watch For A Buy Setup At Lower Parallel

FX:AUDUSD   Australian Dollar / U.S. Dollar
442 0 21
Price has reached the lower parallel of an upsloping median line set and it has already bounced from it. We may see that it has reached the parallel retracing into a corrective structure after an impulse and most likely we will soon have the next impulsive wave. I will personally wait for price to break above the corrective structure, wait for a consolidation and go long aiming the lower quartile of the set.

Comment: Buy setup about to complete. Price is consolidating after an impulsive up move. A breakout above the correction would be our entry with sl below previous swing
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out