Long idea on AUD/USD
Daily and 4 hr chart showing signs of bullish behavior ,,, However
3 hr chart shows head and shoulder patter formation. Buys would be confirmed with a break of the shoulder to the left
1 hour shows a massive price imbalance ( fair value gap has also appeared in at support level)
ENTRY: 0.67367
TP1 (first aim for the low hanging fruit): 0.68159
TP2: 0.68610
3 hr chart shows head and shoulder patter formation. Buys would be confirmed with a break of the shoulder to the left
1 hour shows a massive price imbalance ( fair value gap has also appeared in at support level)
ENTRY: 0.67367
TP1 (first aim for the low hanging fruit): 0.68159
TP2: 0.68610
Note
As suspected; the shoulder was not broken; instead, the head and shoulders identified in our 3hr analysis has been respected.Price is currently sitting at strong support following jobless claims figures.. we wait and see whether the low will be violated.
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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.