AUDUSD POTENTIAL 500 pips bullish trade!
Hello again, Eldiablo here. First of all, Happy New year!
This is my first analysis of 2019!
Why am I thinking about a buy? Because we have seen a break of an important bearish trendline on the daily time frame and now the pair is currently retesting it. Moreover, we are on a WEEKLY support at around 0.70110. This trade will only be taken if we have a reversal pattern or a break of one of the trendlines on the smaller time frame (H1 you can see it well). Another aspect is of course the Butterfly Harmonic pattern on the daily time frame which is overall respecting the retracements between XABCD points.
Wait for confirmations and see you at the top.
--Eldiablo1234--
This is my first analysis of 2019!
Why am I thinking about a buy? Because we have seen a break of an important bearish trendline on the daily time frame and now the pair is currently retesting it. Moreover, we are on a WEEKLY support at around 0.70110. This trade will only be taken if we have a reversal pattern or a break of one of the trendlines on the smaller time frame (H1 you can see it well). Another aspect is of course the Butterfly Harmonic pattern on the daily time frame which is overall respecting the retracements between XABCD points.
Wait for confirmations and see you at the top.
--Eldiablo1234--