The AUDUSD represents an example of 'hairy levels'.
What I mean by that is simple; some price levels are not strong and therefore cause small bounces.
Some are more concrete and will provide better levels for Longs.
In either case, you need to know how they work so you can adjust risk and trade long term.
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For Long Traders...
Risk Averse Longs present themselves... Aslong as you are long at key PA Kill zone levels.
After all you can buy flimsy weak prices if ya want... but something a little more robust will prove stronger.
Scale in on falls, Scale out on rises.
If we do NOT reach that price point we do not lose money. We can trade something else or indeed look...
So tomorrow brings various news events; GDP for GBP, Canada employment and US Consumer Sentiment (hopefully some volatility to move markets)..
After the sharp down move in GBPUSD recently the rebound takes us to pre determined early shorts. Market now falling so look for bounce light (scalp) longs.
Levels for further investor longs / Higher shorts...
1H Demand has been tapped into, 4H Fib level hit, 15min is about to form RSI Divergence. As soon as RSI forms i'll go long with a 20pip SL max, and take it to Daily Supply.
Let's take a trend-following long trade on AUDUSD.
Reason - retest of a broken key level & positive bullish reaction from that.
The pair will most likely keep growing now.
Buy.
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AUDCAD is taking off from a strong support level.
The price formed a double bottom formation on 382 retracement of the last bullish impulse.
The trigger that I am looking for to buy the pair is a bullish breakout of a horizontal neckline.
I need an hourly candle close above 0.9255 structure as a trigger to buy.
In case of a new lower low formation on an...
Daily/4h time frame analysis on AUDUSD.
Bearish accumulation & my plan to trade it.
Thoughts & tips.
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GOLD - As per the price action, trend lines , & technical indicators gold is expected to go down from the current price.
My approach will be a sell here at current price 1725
Potential downside target 1704
Maintain stop loss around 1737
Trade as per your risk appetite, I will be glad to see your likes & comment.
Why you should follow this tradingview account ?...
