AUD/USD Long Setup: Strategic Entry at 0.665
We plan to enter a long position on AUD/USD at 0.665, aligning with the 50% Fibonacci retracement level and a previous high, which serves as a robust support zone.
As the corrective sequence progresses, entering at this level offers an optimal risk/reward ratio. The bespoke support at 0.665 strengthens our conviction for this trade. Our immediate resistance target is at 0.671, where we anticipate potential profit-taking
As the corrective sequence progresses, entering at this level offers an optimal risk/reward ratio. The bespoke support at 0.665 strengthens our conviction for this trade. Our immediate resistance target is at 0.671, where we anticipate potential profit-taking
Transaction en cours:
Price hit our buy entry and went up at least 25 pips, it is ranging around 0.668 now , feel free to secure profits or move your stop loss to the entry level.
The buy entry was posted on the minds.
The buy entry was posted on the minds.
Trade fermée: cible de profit atteinte:
Price did not reach 0.671 as the original take profit I am taking profits early and closing the trades at 0.6695
Transaction en cours:
We are looking to buy AUD/USD at 0.663, which aligns with the 61.8% Fibonacci retracement level on the 1-hour timeframe. The medium-term bias remains bullish, suggesting a potential for an upward movement after a corrective phase.
Technical Indicators: The hourly chart indicates a potential further downside before the uptrend resumes. This provides an opportunity to enter a long position at a favorable risk/reward level.
Support and Resistance Levels:
Entry: 0.663 (61.8% Fibonacci retracement level, aligning with bespoke support)
Stop Loss: 0.6584 (set below the bespoke support level to protect against deeper pullbacks)
Take Profit: 0.67 (targeting the previous high, aligning with the resistance level)
Strategy:
As the corrective sequence continues, we aim to set longs on a dip, capitalizing on the better risk/reward ratio provided by the Fibonacci retracement.
The current price action suggests further downside in the short term, offering a strategic entry point around the 0.663 level.
By following this plan, we aim to take advantage of the bullish medium-term trend while managing risk effectively with well-defined stop loss and take profit levels.
Technical Indicators: The hourly chart indicates a potential further downside before the uptrend resumes. This provides an opportunity to enter a long position at a favorable risk/reward level.
Support and Resistance Levels:
Entry: 0.663 (61.8% Fibonacci retracement level, aligning with bespoke support)
Stop Loss: 0.6584 (set below the bespoke support level to protect against deeper pullbacks)
Take Profit: 0.67 (targeting the previous high, aligning with the resistance level)
Strategy:
As the corrective sequence continues, we aim to set longs on a dip, capitalizing on the better risk/reward ratio provided by the Fibonacci retracement.
The current price action suggests further downside in the short term, offering a strategic entry point around the 0.663 level.
By following this plan, we aim to take advantage of the bullish medium-term trend while managing risk effectively with well-defined stop loss and take profit levels.
Commentaire:
New entry 0.665
New entry 0.665
Trade fermée: ordre d’arrêt atteint:
Fed meeting ruined this trade new trade coming.
Our first resistance target is set at 0.671