AUDUSDTimeframe: 1D
Direction: Long
Confluences for Trade:
- Bullish candle formation
- Stochastic exiting Oversold conditions
- Price action from flash crash yesterday reversed off internal triangle support and closed above the asymmetric triangle's resistance
- Fundamentally, the algorithm trading flash crash yesterday is not considered a trend but just a one-off situation; USD strength is slowly unwinding itself due to overlong positions from previous talks about FED hike's path; currently, the chances of FED hiking further is looking dimmer each passing day and it is a positive for other asset classes.
Suggested Trade:
Entry @ Area of Interest 0.6950 - 0.7050
SL: 0.6863
TP: 0.7517
RR: Approx. 3.30 (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.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.