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Audusdlongsetup

Long Long Long AUDUSDThis pair is a definitely a Long trade. Looking at the previous time frames with 1 Day and the market is trending up, On June 9th 2020 the market has touched the 0.70374 after a 31st December 2019 and has crossed the resistance level for a 1 Day chart. As it is trending high the market would touch the next resistance point at 0.73726 before the trend reverse. Please do an analysis before place the trades and this is just an idea and cannot guarantee any Profits or loss.
Long
by cocalurganesh94
1
AUDUSD - Trading the trend using price action.AUDUSD has been in a decent uptrend of late, so how we as traders can help increase our probability of not only finding a way to enter this kind of market environment but also trading in line with the current trend direction is by waiting for potential bullish signals to form. If these bullish patterns (in the case of an uptrend) occur after a pullback in price, this can help increase your probability for a successful, manageable trading opportunity and allow for you to execute at a better price. As you can see from the 15 Minute chart, price started to drive lower while also creating a liquidity gap in the process left open. At the base however we can see price start to form a bullish head & shoulders pattern in the process. As with all patterns we look to trade we want to wait and look for a higher trend line (in this case a potential bullish move) and be patient for this trend line to hopefully break to the upside therefore increasing our confirmation that the pattern could hold. For trade management we would look to use the liquidity gap filling as our first target area and also the 72.00 big figure as our next. Stop loss could be placed below the left and right shoulders or below the head of the pattern.
by DavidVillagra