AUD/USD Hints on Bullish direction?
Updated
My mentor often tells me to trade what I see and not what I think. Here's what I see...
- A resistance zone being retested... So we can either get a breakout or a reversal... Obvious stuff...
- A broken trendline... confirmed closed candles above trendline indicates upward movement towards the resistance, which it did and is in the process of being retested...
- Then there is the crossover of the moving averages
So I'm going to say that If we can see a confirmed breakout candle above the resistance then we are going Bullish on the trade. We'll have to wait and see...
- A resistance zone being retested... So we can either get a breakout or a reversal... Obvious stuff...
- A broken trendline... confirmed closed candles above trendline indicates upward movement towards the resistance, which it did and is in the process of being retested...
- Then there is the crossover of the moving averages
So I'm going to say that If we can see a confirmed breakout candle above the resistance then we are going Bullish on the trade. We'll have to wait and see...
Note
Waiting for bearish candle to close below trend-line to avoid fake-out...
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