Long

AUDUSD BUY oportunity !

Updated

Possible buy opportunity.

Double bottom on 1D chart.
DXY dollar index looking weak.
SL would be a bit below previous low (of double bottom).

Cut losses quickly in this case it could turn.

Note

Looking for cross of above trend line.
15M chart in long downtrend, correction might happen.
0,64541 line musst hold and retrace.

Please comment below your oppinion/comment.

*not a financial advice

Note

On 1H chart trend line has 7 retracements. Looks strong on that.
Do not forget of stopp loss to be in place (mine a bit below double bottom.

Note

Volume increasing.
Breaking 5M trendline (wicks not included just body of candle) - looking for retest for some more LONGS.
Went back up trough 0,618 fib
Still bouncing on strong support line between 0,64435 and upper 0,64538.

Going up to test 0,5 fib. If crosses and rebounce of of it, it gain bullish momentum.

Note

STRONG VOLUME!

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Testing resistence on 5M.
Crossed 50 and 200 EMA.
Short term strong movement.

Look at higher timeframes for confirmation.

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Double bottom on 5M chart if you like chart patterns.

If it holds above this strong support line we have another bullish signal (and if 50 EMA crosses up).

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5M chart:

0,64660 resistance rejected price

0,5 fib retested - still did not bounce
testf 50 ema - we'll see it price bounce back up

MACD crossing down - bearish

Note

5M: Price testing support again. We're looking for bounce.

Do not forget, long down trend of the pair therefore many resistance areas will come our way.

ShortForexAcademy

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