AUDUSD has been in a strong bear market the past few years and the effect of the corona virus has caused it to test monthly support levels. With rising volume on the weekly timeframe we could expect a breakout upwards. I have set out my TP targets and SL on the sheet. Minimum risk:reward is set at 2:1 and Maximum Risk:Reward is set at 6:1
Fib Retracement lines is our guide with this trade to solid TP targets
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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.