AUDUSD potential for Long position(Intraday)
Updated
As you can see from chart- price failed to make new Lower Low on 28 Oct 2019 and this could be starting of impulse wave for uptrend and since that price go up to make a new Higher High(HH) and Higher Low(HL) until today if u can see from H1 chart.Now price try to make new high from previous daily high on 22 Oct 2019(Box color-Turquoise).My prediction price will go up to find liquidity at high area and go down before buyer start to enter position at discount price area of 0.68600-0.68675.
As you can see from weekly trendline price will make rejection at upper trendline and need to wait for Price Action for breakout or go minor bearish trend.
This is from Daily chart and Daily chart.
Analysis:
1)based on key level from higher timeframe which is Monthly and Weekly
High on candle monthly August 2019-0.68680
Low on candle monthly May 2019-0.68649
if you can see price rejected that price and go up.
2)Based on trendline major high timeframe
3)supply and demand zone
4)High and low of major turning area.
As you can see from weekly trendline price will make rejection at upper trendline and need to wait for Price Action for breakout or go minor bearish trend.
This is from Daily chart and Daily chart.
Analysis:
1)based on key level from higher timeframe which is Monthly and Weekly
High on candle monthly August 2019-0.68680
Low on candle monthly May 2019-0.68649
if you can see price rejected that price and go up.
2)Based on trendline major high timeframe
3)supply and demand zone
4)High and low of major turning area.
Trade closed: target reached
looking for new mapping
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.