The AUD/USD had been on my radar for over 2 weeks now and I have been waiting for the right break to long the pair as heavy as possible, the last week's 100% correction to the spike that happened a week prior to last was really convincing.
But it all went down really great because the price has risen back to the same bullish zone.
The Friday bullish flag formation is a friendly indicator to the buyer because it reveals that the bear's strength is fading away and the buyers are ready to pump the price higher.
A technical setup will be to wait for the price to break above the 0.7430 resistance level then wait for a pullback to retest that same resistance level but this time using it as a support.
Let's wait for the breakout + retest = Bullish
But it all went down really great because the price has risen back to the same bullish zone.
The Friday bullish flag formation is a friendly indicator to the buyer because it reveals that the bear's strength is fading away and the buyers are ready to pump the price higher.
A technical setup will be to wait for the price to break above the 0.7430 resistance level then wait for a pullback to retest that same resistance level but this time using it as a support.
Let's wait for the breakout + retest = Bullish