AUDSGD (1D): Double 'Double Bottoms'?
Updated
AUDSGD Timeframe: 1D
Direction: Long
Confluences for Trade:
- Bearish candle formation (Pin bar formation)
- Slowing in weakening momentum
- A rough Elliot Wave count should have current price levels completed a Wave 3 and may head upwards to do a Wave 4.
- Double bottom formed recently
- A second double bottom may form, look out for it's formation at 0.9720 (Previous bottom for this formed in 2016)
Suggested Trade:
Entry @ Area of Interest 0.9660 - 0.9720
SL: 0.9660
TP: 1.0160
RR: Approx. 2.33 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Note
Take profit on half your positions and move SL to BE. Run the remaining position totally risk free.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Disclaimer
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