AUDUSD Approaching a Hot Zone! Update
Profit(pips)=+145+148=+293
Update: Closed second half at 0.9373= +148
Update: Hit first target
Update: Reached more than 90 percent of first target and therefore moved stop loss to break-even.
In my previous idea, I was waiting for a retest of the hot support zone i mentioned among 0.9200-0.9250 to go long,(please check the link below). Indeed, price provided this dip lower following the NFP release, i was able to long the pair at 0.9225, targeting 0.9370 and 0.9450 resistance levels, with a stop just below the confluence of support levels at 0.9125. Luckily, price rebounded before the end of session, forming a major pin bar at that support area, making me more optimistic that it would hold.
Good Luck, Join me @
twitter.com/thefxchannel
----------------------------------------------------------------------
Previous Analysis:
Tracing price action since March 25 bullish breakout:
-Bullish rally extended on Inverted head and shoulders breakout.
-Price hit 0.9280 resistance level, showing pin bars at resistance
- pullback was shallow towards 0.9200
-The price broke above 0.9280 confirmed 0.9337 and 09445 upside targets.
- Price was rejected at 0.9445 resistance, hit my downside target at 0.9300 and below.
- Note that the Full target of the IHS pattern is near the 0.786 retracement at 0.95
Update: Closed second half at 0.9373= +148
Update: Hit first target
Update: Reached more than 90 percent of first target and therefore moved stop loss to break-even.
In my previous idea, I was waiting for a retest of the hot support zone i mentioned among 0.9200-0.9250 to go long,(please check the link below). Indeed, price provided this dip lower following the NFP release, i was able to long the pair at 0.9225, targeting 0.9370 and 0.9450 resistance levels, with a stop just below the confluence of support levels at 0.9125. Luckily, price rebounded before the end of session, forming a major pin bar at that support area, making me more optimistic that it would hold.
Good Luck, Join me @
twitter.com/thefxchannel
----------------------------------------------------------------------
Previous Analysis:
Tracing price action since March 25 bullish breakout:
-Bullish rally extended on Inverted head and shoulders breakout.
-Price hit 0.9280 resistance level, showing pin bars at resistance
- pullback was shallow towards 0.9200
-The price broke above 0.9280 confirmed 0.9337 and 09445 upside targets.
- Price was rejected at 0.9445 resistance, hit my downside target at 0.9300 and below.
- Note that the Full target of the IHS pattern is near the 0.786 retracement at 0.95
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.