Hello,Traders! AUD-USDwent down from resistance Just as I predicted in my analysis yesterday Now the pair is retesting a massive Daily key structure support level From where a rebound and a bullish Correction as possible with the Target of retesting a local resistance above Buy! Like, comment and subscribe to boost your trading!
Although AUDUSD is in a strong downtrend, I really like this setup and entertaining a possible reversal to the upside. I have a long position at this key demand zone. This is a longer-term swing play for myself with wider stop loss in case price wants to break below it. I'm just trying to avoid getting wicked out of the position. I feel it is necessary to avoid false breakouts. If price wants to fall very far below this structure then we know we are wrong. What do you think would effective stop loss for this setup? Mine is 0.69