Price reacted at a key level around 0.69935, it approached the key level with a descending channel which shows a potential reversal. A bullish engulfing pattern was then presented on the weekly timeframe, which added to the confluences we already had. After that l we were expecting a continuation pattern to confirm that the market is indeed buying. The continuation pattern is currently being created in the form of a bullish flag on the 4h timeframe, this gives us all we need to know that we are going long.
Look at buying AUDUSD when price breaks the flag on the upside at around 0.71934 with stop loss just below the flag and go for a 1:4 RR.
Solospike Trading
Look at buying AUDUSD when price breaks the flag on the upside at around 0.71934 with stop loss just below the flag and go for a 1:4 RR.
Solospike Trading
評論:
Our buy stop order was triggered and now we wait for our trade to playout. Price might go down for a retest and then it continues bullish. The bullish flag was the textbook perfect looking flag but it's still good enough
評論:
The trade is profit, let's continue holding as we expect it to continue bullish.