AUDUSDTrend = up on H4 + D1
I noticed a good level to buy from, the yellow bar marks previous resistance now as support tested perfectly.
I will be building long positions given that the bullish engulfing candle pattern (buy signal) that has printed and working with the trend and level aligning up. IF you are a bit more conservative in your approach, waiting for a 50% retracement of the bullish candle before activating a buy order can be considered.
Entering at market price 0.72601 with
TP @ resistance level 0.73787 and
SL below support (where this trade would be invalidated) @ 0.71787
Don't bet the farm and always exercise good risk management.
Trade closed: stop reached
Stopped out @ -80 pips
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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.