Possible correction from this level
Making slight profit now, hopefully it goes to the right direction. I also hope those who entered early this morning didn't make huge loss!
I believe AUDUSD has completed its current stage rise (a little bit higher than expected) and reached to the previous key resistance and supply zone, now requiring at least 0.382 fib correction.
Reason: historical key level back in year 2019, 2020 and recent 04, August, 2021. Also a sell zone from 0.7389 - 0.74333
SL: above 0.74333
TP: 0.382 fib correction and slightly lower to retest previous support.
NOTE: there's another higher resistance level around 0.74583 which can be a safer SL but that'll miss the point of using SL.
GL.
I believe AUDUSD has completed its current stage rise (a little bit higher than expected) and reached to the previous key resistance and supply zone, now requiring at least 0.382 fib correction.
Reason: historical key level back in year 2019, 2020 and recent 04, August, 2021. Also a sell zone from 0.7389 - 0.74333
SL: above 0.74333
TP: 0.382 fib correction and slightly lower to retest previous support.
NOTE: there's another higher resistance level around 0.74583 which can be a safer SL but that'll miss the point of using SL.
GL.
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