We are quickly approaching key areas on the AUDUSD with a huge Monthly DEMAND/BUY zone that was created in 2020 after the flash crash at the start of this zone we also have a untested Weekly DEMAND/BUY zone starting around 0.616 this is where i will look to start buying this pair.
I will wait for my indicator to give a BUY signal on daily charts as we enter this price area and target the previous MONTHLY support around 0.662 this will be a first easy target for buyers and will also be an area that could attract large sellers to come back into the markets to push lower into the 2020 Monthly DEMAND/BUY.
The intial stop loss will be under the weekly DEMAND/BUY zone its a tight weekly level that if the signal occurs good risk/reward.
I will wait for my indicator to give a BUY signal on daily charts as we enter this price area and target the previous MONTHLY support around 0.662 this will be a first easy target for buyers and will also be an area that could attract large sellers to come back into the markets to push lower into the 2020 Monthly DEMAND/BUY.
The intial stop loss will be under the weekly DEMAND/BUY zone its a tight weekly level that if the signal occurs good risk/reward.
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
30 Days, 30 Ways to 10X Your Trading Results Get free daily tips to transform your mindset, strategy, and consistency.
Sign up here → thetradingedge.net/30days
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.
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
30 Days, 30 Ways to 10X Your Trading Results Get free daily tips to transform your mindset, strategy, and consistency.
Sign up here → thetradingedge.net/30days
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.