AUDUSD LONG
Why are we entering?
- Expecting AUD strength and USD weakness
- We have completed our bullish corrective wave and we are now at point C & our 1.272 fibonacci level where we are expecting a bullish impulse
- We have completed our 5 subwaves down to our channel support where we are expecting strength
What are we waiting for to happen?
- Price to reject our 1.272 fibonacci level zone
- Rejection of structure level
Entry
SAFE Entry: Rejection of structure level & 1.272 fib level zone with a break of descending WFB trendline
Risk Entry 1: Rejection of structure level & 1.272 fib level zone
Risk Entry 2: Early break of descending WFB trendline
What is our confirmation?
- Rejection of fibonacci, structure level and channel support
- Break of WFB trendline
Once entered, where will our Stoploss be?
- Below the structure (above 0.674) 30 pips
- Move SL to BE after running 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - Structure level : 0.726 (490pips)
- Final TP - Structure level : 0.81 (1330pips)
Why are we entering?
- Expecting AUD strength and USD weakness
- We have completed our bullish corrective wave and we are now at point C & our 1.272 fibonacci level where we are expecting a bullish impulse
- We have completed our 5 subwaves down to our channel support where we are expecting strength
What are we waiting for to happen?
- Price to reject our 1.272 fibonacci level zone
- Rejection of structure level
Entry
SAFE Entry: Rejection of structure level & 1.272 fib level zone with a break of descending WFB trendline
Risk Entry 1: Rejection of structure level & 1.272 fib level zone
Risk Entry 2: Early break of descending WFB trendline
What is our confirmation?
- Rejection of fibonacci, structure level and channel support
- Break of WFB trendline
Once entered, where will our Stoploss be?
- Below the structure (above 0.674) 30 pips
- Move SL to BE after running 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - Structure level : 0.726 (490pips)
- Final TP - Structure level : 0.81 (1330pips)
Trade active
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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.
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.