AUDUSD: The Next Area of Interest to Watch for Sell Entries
-INTRODUCTION-
AUDUSD has been moving in a wide descending channel. The price has recently reached a new low at the 0.6850 level. From the support level, the price nicely retraced and now aims to test the resistance level of 0.7300, which would be a 450-pip retracement. This is a great price movement from the bottom because a larger retracement could generate a better risk to reward ratio trade to target the recent new low.
-TRADING PLAN-
Our area of interest to watch for the sell entries is in between the level of 0.7300 ~ 0.7400. From this area, we will look for a consolidation pattern. We will also monitor the RSI potentially reaching the overbought area.
We will update this idea with a new post when the price reaches the area of interest :)
Check out our ongoing and recent retracement trading ideas below :)
AUDUSD has been moving in a wide descending channel. The price has recently reached a new low at the 0.6850 level. From the support level, the price nicely retraced and now aims to test the resistance level of 0.7300, which would be a 450-pip retracement. This is a great price movement from the bottom because a larger retracement could generate a better risk to reward ratio trade to target the recent new low.
-TRADING PLAN-
Our area of interest to watch for the sell entries is in between the level of 0.7300 ~ 0.7400. From this area, we will look for a consolidation pattern. We will also monitor the RSI potentially reaching the overbought area.
We will update this idea with a new post when the price reaches the area of interest :)
Check out our ongoing and recent retracement trading ideas below :)
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.