AUDUSD TRADE UPDATE
Okay so last week I had done analysis on the AUDUSD currency pair for a potential long opportunity. The market had showed me that this was a potential opportunity because on the daily timeframe the market failed to make a new low and that was followed by a strong momentum buyer strength. It had also broken structure on the 4H timeframe and based on the momentum it is showing me that it is a legit breakout above that structure. This opportunity seems to have more of a potential to go to the upside then it does to the downside, also leaving us with a better risk/reward ratio.
Watch the daily timeframe and the 4H timeframe for a potential continued weak pullback into that structure zone down at .71400 area. If we see the continued weak re-test (showing buyer control) and we see strong buyer interest come back in after this pullback then we can look to take this pair to the upside up into .74400
Keep an eye out and always remember to let the market show you what it wants to do next! ALWAYS make sure to use proper risk with your trading setups as well and stay disciplined to your trading structure and habits. Lets see how it plays out!
Cheers! Please like and follow my page for my trade ideas and profits !
Okay so last week I had done analysis on the AUDUSD currency pair for a potential long opportunity. The market had showed me that this was a potential opportunity because on the daily timeframe the market failed to make a new low and that was followed by a strong momentum buyer strength. It had also broken structure on the 4H timeframe and based on the momentum it is showing me that it is a legit breakout above that structure. This opportunity seems to have more of a potential to go to the upside then it does to the downside, also leaving us with a better risk/reward ratio.
Watch the daily timeframe and the 4H timeframe for a potential continued weak pullback into that structure zone down at .71400 area. If we see the continued weak re-test (showing buyer control) and we see strong buyer interest come back in after this pullback then we can look to take this pair to the upside up into .74400
Keep an eye out and always remember to let the market show you what it wants to do next! ALWAYS make sure to use proper risk with your trading setups as well and stay disciplined to your trading structure and habits. Lets see how it plays out!
Cheers! Please like and follow my page for my trade ideas and profits !
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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 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.