From the H4 chart the market is seen to be trending down since May 3rd , 2019. A downward trend line with support and resistance being being respected forming a trending channel. From roof to floor. Around July 18th ,2019 market made its way to the resistance level and saw some correction due to it's impulsive move. Price made it's way back to the s...
This reminds me of when i just started trading a real account AUDUSD is one of the slowest pairs. However as expected the market approached and rejected the daily trend line. Looking for these moves to finish playing out next week.
TP 1 has been destroyed.
TP 2 next some retracement is expected to correct the implusive downward move.
The Downtrend line has been respected from June 27,2019, However looking at the market since May 20,2019 it can be seen that the currency pair is ranging between support and resistance level. Market is currently at the most recent support made on June 18th.
The market should follow the books and make it's way back to resistance level taking it's time of...
Market is currently at the base of the 1HR trendline. Theory states that market should bounce off this trendline back to the resistance level of 1.14122
SL set at : 1.13844.
Let's wait and see what happens when the market approaches this zone.
Aussie has approached the 4H resistance which has previously been rejected on Jun-7th-2019.
Time is now the master for us to wait on a bullish reversal candle to appear on the lower timeframes.
Take profits being set at previous support levels of :