📈AUDUSD Bullish Gartley Pattern: Time to Ride the Trend! 🚀
Updated
Hey fellow traders! There is an exciting setup on the AUDUSD forex pair in the 4-hour timeframe. Let's dive into the details and explore the dynamics between buyers and sellers.
🐻 Sellers' Struggle: Price has formed a bullish Gartley pattern, indicating a potential reversal in the downtrend. During the recent downtrend, sellers were in control, pushing the price lower. However, as we approach the completion of the Gartley pattern, sellers are facing increasing resistance from buyers stepping in to defend crucial support levels.
🐂 Buyers' Resurgence: The formation of the Gartley pattern is a testament to the buyers' resurgence. They have been gradually regaining control, leading to the price forming higher lows in lower timeframes. Now, as we witness the bullish Gartley pattern's completion, buyers are expected to strengthen their positions and propel the price upwards.
💹 Technical Confirmation: The EMA 9 and 21 have crossed over, signaling a bullish trend reversal. This crossover adds to the confidence in the buyers' ability to push the price higher. Additionally, the RSI breaking above the 50 level confirms the growing bullish momentum and adds further weight to the buy signal.
🎯 Profit Targets: To capitalize on this opportunity, I have set my take profit levels strategically. My first take profit is set at TP1 = 0.6800, which aligns with a significant resistance turned support zone. TP2 = 0.68500 is my next target, considering the potential for a strong bullish move. Finally, my ultimate target is set at 0.69000, aiming for a breakout of the previous resistance level.
Remember, successful trading requires proper risk management and sticking to your trading plan. 🛡️
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
🐻 Sellers' Struggle: Price has formed a bullish Gartley pattern, indicating a potential reversal in the downtrend. During the recent downtrend, sellers were in control, pushing the price lower. However, as we approach the completion of the Gartley pattern, sellers are facing increasing resistance from buyers stepping in to defend crucial support levels.
🐂 Buyers' Resurgence: The formation of the Gartley pattern is a testament to the buyers' resurgence. They have been gradually regaining control, leading to the price forming higher lows in lower timeframes. Now, as we witness the bullish Gartley pattern's completion, buyers are expected to strengthen their positions and propel the price upwards.
💹 Technical Confirmation: The EMA 9 and 21 have crossed over, signaling a bullish trend reversal. This crossover adds to the confidence in the buyers' ability to push the price higher. Additionally, the RSI breaking above the 50 level confirms the growing bullish momentum and adds further weight to the buy signal.
🎯 Profit Targets: To capitalize on this opportunity, I have set my take profit levels strategically. My first take profit is set at TP1 = 0.6800, which aligns with a significant resistance turned support zone. TP2 = 0.68500 is my next target, considering the potential for a strong bullish move. Finally, my ultimate target is set at 0.69000, aiming for a breakout of the previous resistance level.
Remember, successful trading requires proper risk management and sticking to your trading plan. 🛡️
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
Trade active
DXY actually retesting the resistance previously acting as a strong support provide a solid confirmation to this setupRemember a bearish dollar cause AUDUSD to rise in value
Note
Note
TP1 reached
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