Possible Long Setup for AUDUSD
Currently the pair is doing a pullback on the 4H timeframe. If we lookdown on the 2H and 1H timeframe, the momentum is OS.
Plan:
- Wait for a reversal to the 1H timeframe with a confirmation (rejection, engulfing).
- The volume of the confirmation candle should be greater than preceding candles.
- The higher timeframe should make a momentum reversal to the upside.
- Trail stop until a bearish momentum reversal.
Plan:
- Wait for a reversal to the 1H timeframe with a confirmation (rejection, engulfing).
- The volume of the confirmation candle should be greater than preceding candles.
- The higher timeframe should make a momentum reversal to the upside.
- Trail stop until a bearish momentum reversal.
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