Corrective pushdown then shoot to 0.78

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hint: Corrective retrace to down then push up to 0.78


If the 0.7800 position is broken, expect further gains to break the previous top

Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.


Trading philosophy: Don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the D1 master trend.

Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe

4H chart should confirm that the bullish retrace had turned bearish . The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line

4H chart should confirm that the bearish retrace had turned bullish . The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line

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