AUDUSD Buy Opportunity – Triple Bottom Pattern

Description:
A bullish reversal setup is emerging on AUDUSD, with the formation of a Triple Bottom pattern. This classic reversal pattern indicates strong support at a key level, signalling a potential shift from bearish to bullish momentum.

Pattern Details: Price has tested the same support level three times, creating a clear triple bottom, while failing to break lower, suggesting a buildup of buying pressure.
Breakout Confirmation: A confirmed breakout above the resistance neckline at [insert level] would validate the pattern and signal the beginning of an upward move.
Entry Strategy: Look to enter a buy position after a breakout and retest of the neckline as support for confirmation.

Targets:

Stop Loss: Place below the lowest point of the triple bottom to minimize risk.

Additional Notes:
Monitor for supporting indicators, such as increased volume or bullish candlestick formations, to confirm the pattern's validity. Keep an eye on macroeconomic data affecting AUD and USD, as these can influence momentum and price action.