Potential Long Entry Setup for AUD/USD
The overall trend in D1 now is up after price breaks up MA200.
H1 also shows the current trend is consistently up.
When price pull back to previous resistance area turns to support 0.7512-0.75221 and rejected up, long the market to follow the current uptrend.
With Stop Loss 20 pips and Target Profit 48 pips, the potential trade offers 2.40 Risk-To-Reward Ratio.
As an alternative, pull back to the next support area 0.74937-0.75005, can also be the trade opportunity.
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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.