LONG AUDUSD
Stopped out last night... RISK MANAGEMENT + RISK/REWARD = EDGE
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1H (lower timeframes) are currently rejecting the Daily level and bullish engulfing. A 4H bullish engulfing above the Daily level would show that the buyers are in control. Confluence with 38.2 fib retrace lining up with a Daily level.
Previous analysis:
- 4H 38.2 rejected, sellers exhaustion on 4H, Daily support (confluence) rejected
- Potential inverse H&S forming on H4, with bullish reversal candlesticks on the Daily timeframe
- Target 1 is -27.2 fib based off of the 4H
- Target 2 is -61.8 fib based off of the 4H
Risk reward = > 4 to 1
Risk management = .30 per $1000
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BTC Tip Address = 16GRNwkudMQbYSyayQDPFLEKhjdBfGyXcK
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1H (lower timeframes) are currently rejecting the Daily level and bullish engulfing. A 4H bullish engulfing above the Daily level would show that the buyers are in control. Confluence with 38.2 fib retrace lining up with a Daily level.
Previous analysis:
- 4H 38.2 rejected, sellers exhaustion on 4H, Daily support (confluence) rejected
- Potential inverse H&S forming on H4, with bullish reversal candlesticks on the Daily timeframe
- Target 1 is -27.2 fib based off of the 4H
- Target 2 is -61.8 fib based off of the 4H
Risk reward = > 4 to 1
Risk management = .30 per $1000
____________________________________________________________
BTC Tip Address = 16GRNwkudMQbYSyayQDPFLEKhjdBfGyXcK
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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.