The pair hit the 61,8% Fib Level from November's '16 high. I expect a small retracement (fib rejection and RSI divergence) back to 0.7516 - 7 level where there is a confluence of 38.2& Fib level of recent rally and pivot point from December's high. Moreover FXCM's negative Speculative Sentiment Index indicates further advance. Once this level is reached i will wait for a bullish candle pattern to confirm upside conviction in order to enter long with SL around 0.7500.
Kommentar
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Trade setup has been invalidated. Still waiting for a pullback to enter long.
Thanks for your great analysis mate!
Here is my view on AUD/USD.
It is based mostly on Market profile (volume)
If you are interested there are more intraday and swing trading levels in my profile page. You are very welcome there!
Dale
Here is my view on AUD/USD.
It is based mostly on Market profile (volume)
If you are interested there are more intraday and swing trading levels in my profile page. You are very welcome there!
Dale