Potential Counter Trend Trade for a possible long
AUDUSD has been on a steady drop looking at it on the monthly time frame. However it has come to a major Monthly support area and showing some significant slow down in momentum. It is very more than likely to see price bounce off that area and start a bullish move. I will however wait for a break of an immediate structure on the H4 TF retest the area before taking a trade. I recommend proper risk management if considering this trade.
Past results does not guarantee future results
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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.