Audusdlong
AUDUSD NICE LONG OPPORTUNITYTime to take a LONG entry on AUDUSD based on below price action:
Confirmation:
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(i) Nice bounce back from multiple support area 0.77000
(ii) Short term downtrend line break
(iii) Market already in a range with multiple respect on the same R/S area
TAKE ONLY 2% RISK OF CAPITAL PER TRADE
AUD/USD analysisAccording to my analysis AUD USD going to be bullish Soon.
Possible, 1st resistance near: 0.7807
2nd resistance and Supply :- 0.7970
There is a trendline from Higher timeframe
Demand near:- 1nd;- 0.7694
2nd;- 0.7648
And AUD/USD net short retail sentiment is high. So smart money may take long side.
Hey what's your thoughts comment below?
AUDUSD at its support buy at 0.76966I will go LONG on AUDUSD because:
The price is forming a Chanel or Rectangle Pattern .
The price is also under Support/Resistance zone.
It has touched the support (lower end of rectangle ) and may reach the resistance zone (upper end of rectangle ) .
Target would be the Resistance area . Book profit when it reaches the resistance zone .
Entry - 0.76966
Target - 0.77421
Stop loss - 0.76855
AUDUSD Analysis as per Wave Theory for Sorter Timeframe.
We know this is the WAVE 3 forming on the Higher Degree hence we know on Lower Degree we will get a 5 Wave Impulse structure; This is the Wave 1 of the WAVE 3 of Higher Degree, we clearly see that the 5 Wave Impulse structure is complete and hence new will have Correction, whenever there is a Correction formed the Price retraces till the latest Fresh Demand area and from that area the Financial Institutions will take the Price towards our Long Term Target in the Upward direction.
This is the Fresh Demand where the Financial Institutions have their unfilled orders and The Price will shoot once it reaches this Demand area, therefore we are expecting a downward move till this Demand; so for now we have a Downward Trend as per smaller timeframe.
Let's see further what structure we have for the Correction.
Before we proceed let's confirm that the Upward move is complete;
This picture confirms that the Upward Move is complete and now we have a Correction.
This is what we have after the completion of the Impulse
This is the Wave A of the Correction forming
Wave A complete
Now we have a Impulse complete Upward so the Correction will be downward hence Wave A (5 Wave down Impulse) will be downward; Wave B will be Upward ( 3 Wave structure ) and Wave C will again be Downward (either a 5 Wave downward Impulse or a 3 Wave downward structure);
So let's see Wave B (3 Wave structure) now;
Move for Short Term timeframe.
So we have first two Waves of the Wave B complete and now we will have an Upward Impulse as Wave C
AUDUSD analysed as per the Wave Theory.
We have a 5 Wave upward Impulse complete which is followed by a Correction which is a Flat. Hence this 5 Wave upward Impulse becomes a Wave 1 and the Flat structure becomes a Wave 2, both are complete and hence now we have The Wave 3 in the Long Term hence overall the Trend is Upward.
This Trade is for the Long Term Investors
Over a Decade and above we will see AUD becoming very stronger as compared to the USD.