Double Bottom - AU
Updated
Here I have AUD/USD on the 1Hr Chart with what looks to be a Double Bottom Pattern!
We were given a Higher High then the one on Tuesday which was preceded by a Lower Low late on Wednesday!
Following the negative news on the Consumer Debt Today and with Non-Farm Employment, Unemployment Rate and Average Hourly Earnings Tomorrow, I will be looking for Price to retrace a little lower testing our EMA Spread, finding Support, then going HIGHER!
*It's important to observe the Intensity of how Price Action revisits our area! Updates will be made.
I also see the RSI giving us quite a Strong Divergence which strengthens my Bullish Bias!
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
-Pattern CONFIRMED by Higher High Break
-BUY-
{ SL } .65520
{ ENTRY } .65838 - .65782
{ TP } .66520
We were given a Higher High then the one on Tuesday which was preceded by a Lower Low late on Wednesday!
Following the negative news on the Consumer Debt Today and with Non-Farm Employment, Unemployment Rate and Average Hourly Earnings Tomorrow, I will be looking for Price to retrace a little lower testing our EMA Spread, finding Support, then going HIGHER!
*It's important to observe the Intensity of how Price Action revisits our area! Updates will be made.
I also see the RSI giving us quite a Strong Divergence which strengthens my Bullish Bias!
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
-Pattern CONFIRMED by Higher High Break
-BUY-
{ SL } .65520
{ ENTRY } .65838 - .65782
{ TP } .66520
Comment
USD news came in POSITIVE and Price Action has made this set-up INVALID!!
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
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