AUD/USD Posssible Trend Change for Mid-term
Updated
Confluences
1.Base on the market structure ,the price is telling me the seller trying to push down lower but buyer has step in multiple time to push back the price and even further.this could lead to seller exhaustion.
2.Weekly time frame bullish engulfing candle.
3.Daily time frame 20Sma Is pointing up.
4.We are in the support area.
5.Great RR ratio 1:3.
Stop Loss:0.6305 (Below weekly bullish engulfing candle)
Exit planned:0.6500 (Previous swing high)
Entry price:0.63600
1.Base on the market structure ,the price is telling me the seller trying to push down lower but buyer has step in multiple time to push back the price and even further.this could lead to seller exhaustion.
2.Weekly time frame bullish engulfing candle.
3.Daily time frame 20Sma Is pointing up.
4.We are in the support area.
5.Great RR ratio 1:3.
Stop Loss:0.6305 (Below weekly bullish engulfing candle)
Exit planned:0.6500 (Previous swing high)
Entry price:0.63600
Note
TP hitted
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