AUDUSD heading towards previous high, facing selling pressure
AUDUSD heading for the previous high pivot zones
I expected price will hold or even retreat from the upper yellow zone
If things goes like what I expected, I will identify 60m reversal pattern in the next few days.
I am ready for the short setup at the moment amd will update later accordingly.
I expected price will hold or even retreat from the upper yellow zone
If things goes like what I expected, I will identify 60m reversal pattern in the next few days.
I am ready for the short setup at the moment amd will update later accordingly.
Note
Price touched the zone, But I didn't identify qualified short zone on the 60m chart. Still pending. However, if you are position trader, you can take the short trade, a bit aggressive for me though.
Trade active
14 & 50 EMA is pending crossing with the zone barely violated. Entry: 0.7386, stop: 0.7396
target1 : 0.7370 target 2: 0.7340
Small zone and quick profit. if the zone got violated. I'll look for long setups
Trade closed: target reached
I've checked the 1H chart. RR is at least above 3..So a quick-profit trade. Now the sell zone got violated due to the weakness of USD, we should look for long setup.
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plan your trade and trade your plan
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.