Hi Everyone, it's been a while but I'll slowly get back at posting my trading ideas here.
Today's setup is on AUDUSD.
AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level.
My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a support to continue to move price up!
I'm placing my stop loss below the Order Block that broke recent structure - in case the market does not respect that level, this setup will no longer be valid and we should look for another opportunity.
However, I think this is a great trading idea with added confluences!
Let me know your thoughts!
Good luck!
Cheers,
Gaspar_Trader
Today's setup is on AUDUSD.
AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level.
My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a support to continue to move price up!
I'm placing my stop loss below the Order Block that broke recent structure - in case the market does not respect that level, this setup will no longer be valid and we should look for another opportunity.
However, I think this is a great trading idea with added confluences!
Let me know your thoughts!
Good luck!
Cheers,
Gaspar_Trader
Trade active
Trade closed: target reached
Target Reached without any concerns at all.
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.
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.