AUDUSD - When to sell? - Trade the Break!
Updated
Hi Traders!
As you can see the market is in a uptrend.
The market was at first moving in a parallel channel.
Then it broke out and was moving in a wedge.
The major Level of of this was the Support at 0.62800.
After that the market broke out of the wedge again.
It is now moving in a parallel channel.
There are two things we're looking for:
- The break of the Parallel Channel
- The area of the Resistance (orange box)
If the market either breaks the channel or reaches the area, we are looking forward to sell.
The target is the Support.
We recommend to wait for a confirmation.
Thanks and successful Trading :)!
As you can see the market is in a uptrend.
The market was at first moving in a parallel channel.
Then it broke out and was moving in a wedge.
The major Level of of this was the Support at 0.62800.
After that the market broke out of the wedge again.
It is now moving in a parallel channel.
There are two things we're looking for:
- The break of the Parallel Channel
- The area of the Resistance (orange box)
If the market either breaks the channel or reaches the area, we are looking forward to sell.
The target is the Support.
We recommend to wait for a confirmation.
Thanks and successful Trading :)!
Comment
The RED BOX is here, but in bigger!
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.