Very Bullish Idea on AUDUSD
Hey Everyone!
AUDUSD is looking very bullish to me, on our DAILY time frame, I see that price has bounced off my .71000 S/R level and looks to be continuing up as well as spotted a new S/R zone, however overall it's important to keep in mind that overall the trend is still bearish. Anyways on our 4 HOUR timeframe, we had a break above the 50 SMA with a pullback also to that daily zone I had mentioned which should be evident in the image. At first I was in the process of marking up a channel until I noticed the wedge shape being formed as well as the break above the wedge (I'v gotten really into trading with patterns lately, noticing price really does respect patterns for real!) Lastly, I also liked the recent candlesticks I was seeing in this timeframe.
NEXT, on the 1 HOUR timeframe, once I saw that price was riding above my 50 and 200 moving average, as well as the cross of the moving averages on the 30 MINUTE time frame, I definitely knew bullish was the way I wanted to go
AUDUSD is looking very bullish to me, on our DAILY time frame, I see that price has bounced off my .71000 S/R level and looks to be continuing up as well as spotted a new S/R zone, however overall it's important to keep in mind that overall the trend is still bearish. Anyways on our 4 HOUR timeframe, we had a break above the 50 SMA with a pullback also to that daily zone I had mentioned which should be evident in the image. At first I was in the process of marking up a channel until I noticed the wedge shape being formed as well as the break above the wedge (I'v gotten really into trading with patterns lately, noticing price really does respect patterns for real!) Lastly, I also liked the recent candlesticks I was seeing in this timeframe.
NEXT, on the 1 HOUR timeframe, once I saw that price was riding above my 50 and 200 moving average, as well as the cross of the moving averages on the 30 MINUTE time frame, I definitely knew bullish was the way I wanted to go
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