Description
⋅ AUDUSD: I enter a fresh LONG position of AUDUSD at current price.
Take profit at 0.9390 and stop loss at 0.9310
Indeed, I open this trade totally base on : RISK APPETITE
I expect risk appetite will drive AUDUSD higher to 0.94 level and because of lacking US economic data + profit taking, traders will choose AUD to buy.
Technical Analysis:
- I see two patterns I show on the chart:
+ Double Bottom pattern.
+ Head and Shoulder pattern.
No matter what you choose what pattern, the price also broke the neckline in both pattern, and this is the BUY signal.
Thus, I decide to take risk. BUY AUDUSD to 0.9390.