Hey guys, last week we had a setup on AUDUSD which was invalidated as price broke below PRZ.
This week, I see a potential bounce off this ABCD pattern.
Pattern Identification
ABCD pattern completion at 0.7460.
Trade Execution
Price is currently trading within this H4 channel.
I drew a trendline connecting the lows.
If price retests the trendline connecting the lows, we might have a low risk long.
EP: 0.7460
SL: 0.7420 (40)
TP: 0.7550 (90)
This week, I see a potential bounce off this ABCD pattern.
Pattern Identification
ABCD pattern completion at 0.7460.
Trade Execution
Price is currently trading within this H4 channel.
I drew a trendline connecting the lows.
If price retests the trendline connecting the lows, we might have a low risk long.
EP: 0.7460
SL: 0.7420 (40)
TP: 0.7550 (90)
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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.
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.