Take a look at this 4hr chart of AUDUSD. What do we see:
- Break out of downtrend line.
- Bullish divergence
- Support @0.7300 (Yellow areas) - FIBO Retrace 23.6%
- Resistance @0.7500 (Red areas) - FIBO Retrace 50.0%
Wait for pull back @0.7300. Set a buy limit @0.7310.
Stop loss under 0.7240. Take profit @0.7500
Stay Tuned.
- Break out of downtrend line.
- Bullish divergence
- Support @0.7300 (Yellow areas) - FIBO Retrace 23.6%
- Resistance @0.7500 (Red areas) - FIBO Retrace 50.0%
Wait for pull back @0.7300. Set a buy limit @0.7310.
Stop loss under 0.7240. Take profit @0.7500
Stay Tuned.
Comment:
Price is approaching 0.7500 level really quick. Looking to take profit when it reaches 0.7500-ish level.
Trade closed: target reached:
Price reached our take profit @0.7500. Trade closed automatically.
