AUDUSD long opp
At 23.6% fibs level would be a risky entry, but for me I'll set another buy limit at 38.2% fibs level, and even more possible, 50% fibs level for the second buy limit.
Reasons to enter:
1. Tested weekly trend line (black trendline), rebounce to the upside!
2. The price retested perfectly at 0.7500, bounced back and staying above now, am expecting the price to go up further.
3. A retest of area of support (middle light blue horizontal rectangle), am expecting the support to hold this price.
4. The price is heading back towards my EMA, so im expecting it to bounce back from my ema, thats where my buy limit comes in.
5. Reasonable RR ratio ;)
Happy trading all and merry Christmas :D
Reasons to enter:
1. Tested weekly trend line (black trendline), rebounce to the upside!
2. The price retested perfectly at 0.7500, bounced back and staying above now, am expecting the price to go up further.
3. A retest of area of support (middle light blue horizontal rectangle), am expecting the support to hold this price.
4. The price is heading back towards my EMA, so im expecting it to bounce back from my ema, thats where my buy limit comes in.
5. Reasonable RR ratio ;)
Happy trading all and merry Christmas :D
Trade active
Instant execution on 18 December is currently having + 24pips. So far so good this week. =DTrade closed: target reached
TP with +110 pips. Good Trade all~ !
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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.