AUD/USD: More trend continuation?
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the AUD/USD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Monthly timeframe:
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
After a strong responsive movement to the upside, the market started following an uptrend inside an ascending channel, getting and increasing demand before pushing twice the price up with a really important movement.
The price is currently retesting the higher value of the channel without showing so much interest in that level.
However I would expect some correction before a possibility of a trend continuation.
When, where and why would I step into the market?
Considering the overall uptrend in the intraday timeframe, before entering into the market with a long position, I will be waiting for the price to retrace until the lower value of the channel, waiting for a rejection on the key level and a good entry point with a RRR of 1:2. As well, some consolidation on the support level would be important to have more demand and more possibility to see the price going up again.
My SL would be just below the lower line of the channel and the support zone and the first TP around the middle level on the ascending channel.
A weak responsive movement on the support level, would probably invalidate this trade.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Monthly timeframe:
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
After a strong responsive movement to the upside, the market started following an uptrend inside an ascending channel, getting and increasing demand before pushing twice the price up with a really important movement.
The price is currently retesting the higher value of the channel without showing so much interest in that level.
However I would expect some correction before a possibility of a trend continuation.
When, where and why would I step into the market?
Considering the overall uptrend in the intraday timeframe, before entering into the market with a long position, I will be waiting for the price to retrace until the lower value of the channel, waiting for a rejection on the key level and a good entry point with a RRR of 1:2. As well, some consolidation on the support level would be important to have more demand and more possibility to see the price going up again.
My SL would be just below the lower line of the channel and the support zone and the first TP around the middle level on the ascending channel.
A weak responsive movement on the support level, would probably invalidate this trade.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.