AUDUSD TRADE IDEA 24/06/2018

2018年6月24日

This is a bold idea

The Dollar is currently rising like a raging bull at the moment. However this is Just some thing I have noticed on this pair today.

What looks like a potential double bottom has appeared. The main reason why I have decided to look at this idea is that the Doji candle form off the key level rejection. That for me is a big sign.

price this week closed at the same price as last week. Even though we had a Marabozu shoot star candle, price fell and retraced all the way back which is another big sign for me.

The last time we had a double bottom was back in December 2016 and price rallied around 930 pips.

We had a fib bounce between the 61 and 78 fib region and price topped off at the D2 extension. You can't really have a better move than that. Hopefully this can be the case again. But that all depends if this is really a double bottom or not.

The trend line analysis I drew from before broke retested and fell. With price reaching the first point of the trend line before retracing.

knowing me I will probably just take this trade depending on tonight's opening. So let me wait until then...