AUDUSD LONG

25 thg 2, 2021

The Aussie Dollar was ranging for a couple of days after a strong bullish rally and had broken above the consolidation zone yesterday around the end of the NEW YORK SESSION. Price has since then made higher highs and higher lows and is now retesting a new support. We know this is a bullish market so we of course are only looking for buys. This setup has confluence with the golden Fibonacci zone as well. If price happens to hold this level with rejection and an entry candle on the m15 such as a doji or engulfing , then I will place 2 positions to go long. My stop loss will be right below the zone at the -78.6 extension. TP 1 is the -27.8 extension and TP2 is -61.8 extension. I'm gonna set the trade to BE once TP 1 is hit and let the other position run to TP 2 if possible. Lets see if we get that entry confirmation.