AUD/USD Long term buy
can see that in daily and 4 hour time frame (HTF) that it is an uptrend respecting the green trend line in the big picture.
In the hourly time frame (STF), i can identify a ascending channel/ uptrend by drawing the pink trend lines. i can see that the price has interacted with the trend line multiple times as identified by the golden ellipses which states that it is respecting the pink trend line.
Looking at which the price has fallen from, i assume that in long term the price would increase until it has reached the previous high that the price fell from.
The price could break the pink trend line, but i assume it will still follow the green trend line for a long term buy.
In the hourly time frame (STF), i can identify a ascending channel/ uptrend by drawing the pink trend lines. i can see that the price has interacted with the trend line multiple times as identified by the golden ellipses which states that it is respecting the pink trend line.
Looking at which the price has fallen from, i assume that in long term the price would increase until it has reached the previous high that the price fell from.
The price could break the pink trend line, but i assume it will still follow the green trend line for a long term buy.
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