Take a look at this 4hr chart of AUDUSD. What do we see:
- Break out of downtrend line.
- Bullish divergence
- Support @0.7300 (Yellow areas) - FIBO Retrace 23.6%
- Resistance @0.7500 (Red areas) - FIBO Retrace 50.0%
Wait for pull back @0.7300. Set a buy limit @0.7310.
Stop loss under 0.7240. Take profit @0.7500
Stay Tuned.
- Break out of downtrend line.
- Bullish divergence
- Support @0.7300 (Yellow areas) - FIBO Retrace 23.6%
- Resistance @0.7500 (Red areas) - FIBO Retrace 50.0%
Wait for pull back @0.7300. Set a buy limit @0.7310.
Stop loss under 0.7240. Take profit @0.7500
Stay Tuned.
Note
Price is approaching 0.7500 level really quick. Looking to take profit when it reaches 0.7500-ish level.Trade closed: target reached
Price reached our take profit @0.7500. Trade closed automatically.
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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.
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.