AUDSGD (1D): Double 'Double Bottoms'?

AUDSGD
Timeframe: 1D
Direction: Long

Confluences for Trade:
- Bearish candle formation (Pin bar formation)
- Slowing in weakening momentum
- A rough Elliot Wave count should have current price levels completed a Wave 3 and may head upwards to do a Wave 4.
- Double bottom formed recently
- A second double bottom may form, look out for it's formation at 0.9720 (Previous bottom for this formed in 2016)


Suggested Trade:
Entry @ Area of Interest 0.9660 - 0.9720
SL: 0.9660
TP: 1.0160
RR: Approx. 2.33 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

Trade active

Comment:

Take profit on half your positions and move SL to BE.

Run the remaining position totally risk free.