AUDUSD faces a strong support if an AB=CD pattern is finished
Evidences:
1. Potential AB=CD
2. A support that has tested successfully for 4 times.
3. Also a demand zone (pin bar at that position), showing a strong buy force.
But:
1. A potential inverse cup and handle may be formed after a short rebound.
So:
Do not expect to hold the long position for too long if AB=CD is finished.
1. Potential AB=CD
2. A support that has tested successfully for 4 times.
3. Also a demand zone (pin bar at that position), showing a strong buy force.
But:
1. A potential inverse cup and handle may be formed after a short rebound.
So:
Do not expect to hold the long position for too long if AB=CD is finished.
Trade closed: target reached
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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.
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.