AUDUSD possible long move
Updated
AN offers a really good long setup. The confluences are:
1.ascending channel
2.break and retest of S/R zone
3.daily AND weekly 50EMA laying on this level
4.61.8% fibs
So we just need to see rejection candles at POI for entries.
The only thing I don't like is the bearish momentum. The last daily candle is Marubozu candle, a very dominant candle sooo I'll be looking for STRONG 4H rejection candles or daily candle before jumping in longs!
It could easily penetrate the zone, so be careful with entries.
1.ascending channel
2.break and retest of S/R zone
3.daily AND weekly 50EMA laying on this level
4.61.8% fibs
So we just need to see rejection candles at POI for entries.
The only thing I don't like is the bearish momentum. The last daily candle is Marubozu candle, a very dominant candle sooo I'll be looking for STRONG 4H rejection candles or daily candle before jumping in longs!
It could easily penetrate the zone, so be careful with entries.
Note
The bearish momentum is still going, soo I will wait for 1H consolidation in the zone before jumping in longs. If that happens, we will have breakout of the minor DTL and 1H 50EMA, this will indicate that the price will hold at this level and potentially shoot up to the ceiling of the channel.As for now, there is no sign for rejection :(
Trade active
Oooh boy, what a volatile night... I entered long on AU, because it did what I've wanted and said in previous comment. I feel good for this trade, so in next 1-3 days we will see the outcome of itTrade active
Although AU broke thought all 50EMAs, all nearby zones of S/R, made continuous HHs and HLs, its actually not looking so good for a bullish scenario :D ... DXY might reverse, so every cross with USD will follow too. Placed my SL at BE
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