Hi guys, I am looking at this potential long AUDUSD setup. There is a bullish engulfing pattern on the 4H chart.
Today's trading setup is coming from the AUDUSD pair. I am looking at this pair and seeing a major support level. I am also seeing a price action confirmation. The daily candle is a bullish engulfing candle that has formed after a long-legged doji candle. This bullish confirmation after a hesitant candle is giving me green light for a long trade. If I decide to...
Sell below 0.7589. Stop loss at 0.7622. Take profit at 0.7514. Reason for the trading strategy (technically): We remain bearish looking to sell below 0.7589 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to 0.7514 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing...
I have been waiting for this setup from last week. Looks like AUDUSD is getting ready for a pickup
Buy above 0.7696. Stop loss at 0.7643. Take profit at 0.7780. Reason for the trading strategy (technically): Price has bounced up really nicely above our support from yesterday. We now remain bullish above support at 0.7696 (Fibonacci retracement, horizontal pullback support, breakout level) where we expect a further push up to 0.7780 resistance (swing high...
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron