AUDUSD- Techincal Analysis On 4 hours Time Frame
Key Analysis Points:
Break of Structure (BOS):
A clear breakdown of a previous support area, marked as "BOS" on the chart, signaling a shift in market structure.
Resistance Zone:
A resistance area is highlighted in red. The price broke through this level, confirming the bearish momentum.
Entry Strategy:
The chart suggests waiting for a pullback and retest of the resistance zone, around 0.66960, before entering a sell position.
Stop Loss:
Positioned slightly above the resistance zone at 0.67156 to protect against false breakouts.
Take Profit:
The target is set at 0.66350, which is a key support zone.
Trade Setup Summary:
Entry: After a pullback and retest around 0.66960.
Stop Loss: At 0.67156 (just above resistance).
Take Profit: At 0.66350 (next support level).
This analysis reflects a bearish trend continuation, with the pullback and retest serving as a confirmation for entering the short (sell) position. The stop loss is strategically placed to manage risk, while the target aims for a reasonable profit margin.
Break of Structure (BOS):
A clear breakdown of a previous support area, marked as "BOS" on the chart, signaling a shift in market structure.
Resistance Zone:
A resistance area is highlighted in red. The price broke through this level, confirming the bearish momentum.
Entry Strategy:
The chart suggests waiting for a pullback and retest of the resistance zone, around 0.66960, before entering a sell position.
Stop Loss:
Positioned slightly above the resistance zone at 0.67156 to protect against false breakouts.
Take Profit:
The target is set at 0.66350, which is a key support zone.
Trade Setup Summary:
Entry: After a pullback and retest around 0.66960.
Stop Loss: At 0.67156 (just above resistance).
Take Profit: At 0.66350 (next support level).
This analysis reflects a bearish trend continuation, with the pullback and retest serving as a confirmation for entering the short (sell) position. The stop loss is strategically placed to manage risk, while the target aims for a reasonable profit margin.
Trade active
Trade ActiveTrade closed: target reached
Target Hit
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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.
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.