AUDUSD Multiple Rejections of Support
In this analysis, I'm examining a consolidation pattern. Price is showing signs of rejection, and therefore has the potential for (temporary) long positions.
AUDUSD has been consolidating within a rectangle pattern (on the 4-hour chart) for some time. Price has previously rejected support on multiple occasions, suggesting it may do so again.
We have observed a long-wick candlestick rejecting the key level of support and a breakout of the downtrend line. I will be closely monitoring price for a trend change confirmation, specifically looking for higher highs and higher lows.
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At Forexity: my trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
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#scalping
#intraday
#daytrading
AUDUSD has been consolidating within a rectangle pattern (on the 4-hour chart) for some time. Price has previously rejected support on multiple occasions, suggesting it may do so again.
We have observed a long-wick candlestick rejecting the key level of support and a breakout of the downtrend line. I will be closely monitoring price for a trend change confirmation, specifically looking for higher highs and higher lows.
---
At Forexity: my trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
---
#scalping
#intraday
#daytrading
הערה
Fulfilled:
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.
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.