Price action has seen the AUDUSD form higher highs and higher lows, indicating an uptrend.
This allows us to draw in support and resistance lines and give us higher probabilities for price reversal at the current price point.
With the completion of the Cypher, we have strong reason to go long here. The RSI also has diverged indicating a reversal in price is imminent.
We will await confirmation of a reversal candle on the 4h before entering this trade.
Execution
1. TP and SL placed at optimal levels.
If you want to learn the trade, where to place your targets and losses
patreon.com/indigotradinggroup
Good luck
This allows us to draw in support and resistance lines and give us higher probabilities for price reversal at the current price point.
With the completion of the Cypher, we have strong reason to go long here. The RSI also has diverged indicating a reversal in price is imminent.
We will await confirmation of a reversal candle on the 4h before entering this trade.
Execution
1. TP and SL placed at optimal levels.
If you want to learn the trade, where to place your targets and losses
patreon.com/indigotradinggroup
Good luck
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.
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.