Morning traders, hope we are all having a good week so far, a quieter one today I think, only a couple of todays watch list, This idea needs a little more price development so may be one for end of the week maybe even going into next week.
Looking for longs for AUDUSD I believe is sensible, we a bullish daily time frame, with a recent higher high, price has broken out of a upward channel but I am anticipating for price to retrace to the 0.5 fib level, which lines up nicely with the previous significant high when price will find support and continue with the bullish move to test the higher time frame downward trend line for the 4th time.
Have a good day, don't be afraid to not take any trades if you don't see any.
Plan your trade, trade your plan.
Looking for longs for AUDUSD I believe is sensible, we a bullish daily time frame, with a recent higher high, price has broken out of a upward channel but I am anticipating for price to retrace to the 0.5 fib level, which lines up nicely with the previous significant high when price will find support and continue with the bullish move to test the higher time frame downward trend line for the 4th time.
Have a good day, don't be afraid to not take any trades if you don't see any.
Plan your trade, trade your plan.