Breakout opportunity on AUDUSD
Updated
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!
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!
Trade active
Note
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.
Trade closed: target reached
Take Profit level hit for a more than 4x profit.
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❤️ Trading videos (YouTube): bit.ly/MT-Channel
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