I trade the AUDUSD as the margin is low and this pair works well for intraday trading as it can yield 50-95 pips. It trends well so if you are a beginner or intermediate trader it's a good pair to start with.
Price has reached a monthly and weekly low and support from May 2017. We have a response from the Bulls and a nicely formed doji candle provides us with a clue to the trend change for the next month.
I have measured the previous years 4 Bullish swings indicated by the blue arrows.
Entry 7412-7385 zone - confirm on the lower time frame before entry.
Stop -7362
Target - 7993- 8111
We will see another swing up to the area indicated by the red and orange lines. This is the target.
Price has reached a monthly and weekly low and support from May 2017. We have a response from the Bulls and a nicely formed doji candle provides us with a clue to the trend change for the next month.
I have measured the previous years 4 Bullish swings indicated by the blue arrows.
Entry 7412-7385 zone - confirm on the lower time frame before entry.
Stop -7362
Target - 7993- 8111
We will see another swing up to the area indicated by the red and orange lines. This is the target.