Aussie Dollar is making nice bullish waves on the 4hr and daily timeframe. I am looking to capitalise on this and enter another long position on the nexxt higher low that forms.
I have a few confluences to look for.
1 - previous support/resistance zone on the last highs (coloured box) 2- Bullish trendline 3- Fib retracement levels (0.618 is in the coloured box support zone)
Entry upon rejections of the fib 0.618 and support zone or the fib 0.786 level and trendline.
Trade active
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Entry price of 0.68500
Comment
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Bullish trendline and intraday support zone held strong. Looking for 0.69800 profit target next