AUDUSD: Long
Hi all,
In my opinion, I am quite nervous with the M Pattern that I see in 4H chart. However, historically if I go through bar by bar, I think this pair honors trendline more than chart pattern. And, I see RSI (Daily) is above 50 but I am waiting for bounce back confirmation before open position Long (red candle but RSI still above 50). Interestingly, I find resistance line from Jan 2018. That will be my optimistic target.
Please share your opinion if you think my analysis is wrong and give support if you think I am right.
Thank you.
Cheers
Khres
In my opinion, I am quite nervous with the M Pattern that I see in 4H chart. However, historically if I go through bar by bar, I think this pair honors trendline more than chart pattern. And, I see RSI (Daily) is above 50 but I am waiting for bounce back confirmation before open position Long (red candle but RSI still above 50). Interestingly, I find resistance line from Jan 2018. That will be my optimistic target.
Please share your opinion if you think my analysis is wrong and give support if you think I am right.
Thank you.
Cheers
Khres
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