AUDUSD BUY

Preference:
AUDUSD has been trending downward for the majority of the week. After consolidating and breaking above, we set a buy limit order at the double bottom on the 30-minute time frame and waited for this structural level to be retested. Our trade is now active. If this level holds, we could see a retest of the highs before a continuation of the downtrend.

Alternative Scenario:
If this level fails to hold, it would be safe to wait for a few candles to close. After getting confirmation that the downtrend is still intact, we could wait on a retest before looking for a sell with this pair.

TKProphet

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