Breakout opportunity on AUDUSD

Nov 23, 2020

A breakout opportunity is forming on the AUDUSD.

The pair is currently consolidating after a recent uptrend that offered two nice buying opportunities. Price movements are increasingly compressed and will eventually break. As of now, the breakout could be either to the upside (trend continuation) or to the downside (retest of the previous major support) so let's just wait and see when the breakout comes.

Last but not least, always check confirmation from the indicators!

Nov 24, 2020

Trade active

Nov 26, 2020

Note

Nov 27, 2020

Note

Nearly there, let's just be a bit more patient.
We're now at breakeven so, in the worst case scenario, we get a 2x profit.

Nov 27, 2020

Trade closed: target reached

Take Profit level hit for a more than 4x profit.