AUD/USD Long Position Setup
Updated
Market Overview:
In the 15-minute timeframe, the AUD/USD pair has shown a clear Break of Structure (BOS) to the upside, indicating a potential bullish momentum. The price has recently broken above the previous high, confirming the BOS. We are now observing a retracement to the demand zone, which aligns with our entry criteria.
Entry: 0.67450 (Upon confirmation of price action in the demand zone)
Stop-Loss (SL): 0.67313 (Below the demand zone to protect against a false breakout)
Take-Profit (TP): 0.67650 (Targeting the next significant resistance level)
Recommendation:
This setup offers a favorable risk-to-reward ratio. Traders should monitor the price action as it approaches the demand zone for entry confirmation. Ensure to manage risk appropriately and adjust the stop-loss to break even once the trade is in profit.
Happy trading!
In the 15-minute timeframe, the AUD/USD pair has shown a clear Break of Structure (BOS) to the upside, indicating a potential bullish momentum. The price has recently broken above the previous high, confirming the BOS. We are now observing a retracement to the demand zone, which aligns with our entry criteria.
Entry: 0.67450 (Upon confirmation of price action in the demand zone)
Stop-Loss (SL): 0.67313 (Below the demand zone to protect against a false breakout)
Take-Profit (TP): 0.67650 (Targeting the next significant resistance level)
Recommendation:
This setup offers a favorable risk-to-reward ratio. Traders should monitor the price action as it approaches the demand zone for entry confirmation. Ensure to manage risk appropriately and adjust the stop-loss to break even once the trade is in profit.
Happy trading!
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