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MII1502
Dec 5, 2021 7:11 PM

A possible correction before sell off Long

AUD/USDOANDA

Description

Based on past data, I have extended the trend-line (24% opacity) acting as SUPPORT towards the current price and a trend-line (100% opacity) acting as SUPPORT, from the 100% opacity trend-line, there is a rejection with doji/spinning tip and a Bullish candle strong enough to be compared to previous Bearish candle. if you observe the trend-line with 24% opacity it's the major trend-line drawn from previous price reaction extended to accommodate current price reaction on the level, what we are expecting is a buy above the trend-line as indicated with the arrow direction. From the Fibonacci tool, we have seen that price sold from the previous high down to the current low, a possible correction if seen would give us a retracement towards 50% fib level.

Trade closed: target reached

Comments
MII1502
Hello guys!

I hope you guys are benefitting from the setup idea? Ensure to engage and let me know if you made some reasonable profit off this setup...
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