AUDUSD LONGAUD/USD IS TRADING AT SUPPORT LEVELS
RSI IS ALSO SHOWING BULLISH DIVERGENCE
IT CAN BOUNCE BACK TO TEST 0.71100 LEVELS
ONE CAN GO LONG AT CURRENT MARKET PRICE WITH STOPLOSS IF 4H CANDLE CLOSE BELOW 0.69900
AUDUSD_ZERO trade ideas
Don't miss the great sell opportunity in AUDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7325). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 0.7265
TP2= @ 0.7240
TP3= @ 0.7190
SL: Break Above R2
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Ascending channel - Sell Price is forming an ascending channel hence looking to enter short
Please Note:
Just knowing the direction of the next move will not help being profitable in the long run.
There is a lot more to it with regards to the entry technique and trade management after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get to squeeze maximum amount of pips from it.
Comment below in case if you need to know how to do it if interested.
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 TRADES 1:3Key highlights
1. Overall downtrend
2. Order put at pullback
3. Risk to reward 1:3
4. Find key levels by using 4 hr and 1 hr time frame
5. Don't change values after entered in trade
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.
AUDUSD short Position 1:3Rkey levels identified
On 4hr Time frame Chart -Downtrend
On 15 min Time Frame put sell order at pullback phase
stop loss above the candle or key level
Take profit next key level or 1:3R
Order completed within 90 min Duration
Standard RISK to REWARD ration 1:3
AUDUSD longTrading suggestion:
There is a possibility of the uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
AUDUSD is in a range bound and the beginning of uptrend is expected.
The RSI near 50.
Take Profits:
TP1= @ 0.74009
SL= 0.72454
Risk reward ratio = 1 : 3
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AUDUSD- overview consolidation phaseTwo scenarios;
market range between major level
or
market will break major resistance and going to the target
