Educational tip:
You can see the trend of this currency pair in the chart, which is completely bullish. On July 11, we saw an upward price spike up to 0.6800, and then within a few hours after the price rise, we saw a decrease in the value of the Australian dollar, for trading on This currency pair can be analyzed in several ways. short trade : We should wait for the price to return to the range of 0.6800 , if a double top pattern is formed or not, if this pattern is formed, we can find a suitable area to enter by considering other trading strategies such as the candle structure. then we can go for short trade .
Buy trade: if the price hits the trend line, it is the first opportunity, which in my opinion cannot have a good risk-reward. The second opportunity to buy: wait for the price correction to the 0.68% and 0.50% Fibonacci areas then do the necessary checks for the long trade.
You can see the trend of this currency pair in the chart, which is completely bullish. On July 11, we saw an upward price spike up to 0.6800, and then within a few hours after the price rise, we saw a decrease in the value of the Australian dollar, for trading on This currency pair can be analyzed in several ways. short trade : We should wait for the price to return to the range of 0.6800 , if a double top pattern is formed or not, if this pattern is formed, we can find a suitable area to enter by considering other trading strategies such as the candle structure. then we can go for short trade .
Buy trade: if the price hits the trend line, it is the first opportunity, which in my opinion cannot have a good risk-reward. The second opportunity to buy: wait for the price correction to the 0.68% and 0.50% Fibonacci areas then do the necessary checks for the long trade.
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