BennyManieri
Long

Break above/close above signals trend continuation trade

FX:AUDUSD   Australian Dollar/U.S. Dollar
114 0 2
We see that price has closed above .73400s - .74000s, which has served as a major resistance level out on our daily timeframe . Should we drop down to an hourly to execute, we see that a pullback into structure is the best way to get involved long, as the market has signaled it's intention to go higher.

We see that anywhere in the grey box (daily resistance zone ) can present the potential reversal area. We also see a nice little treat of a . 618 retracement waiting for us around that same zone. We will take profits not with the expectation that price will print higher highs (it should) but rather, that price will retest the most recent highs. If the market just continues to shoot higher, well, we don't have a trade....

Benny Manieri
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out