AUDUSD Timeframe: 30m
Type: Counter-trend / Bounce from Support
Risk Level: Medium to High
Possible Reward: 4+
🔹 Setup:
Price is testing the lower boundary of the recent support zone (0.6432 – 0.6420), aligning with the previous channel structure visible on the 8h chart. The descending move has shown initial signs of exhaustion, suggesting a potential bounce.
📈 Entry:
Current price zone 0.6432 – 0.6445
🎯 Targets (TP):
TP1: 0.64624
TP2: 0.64797
TP4: 0.65158
⛔ Stop Loss (SL):
0.64250 (below recent swing low and liquidity pool)
8H chart Overview:
Previous Position from top of Channel:
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Psychology Always Matters:
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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.