AUDUSD – A Double Bottom That Caught My Eye

09 Jul - AUDUSD 4 Hr

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Hi All,

Just a quick update on the Aussie. I was flipping through my charts and the AUDUSD caught my eye. The daily chart looks somewhat choppy but when zoomed into the 4 hour, I got an interesting picture.

Based on the chart above, the AUDUSD just broke above the neckline (blue circles). I will be very keen to find a long entry at the retest of the neckline (yellow highlight). Looking at this carefully, the set up looks somewhat similar to the GBPUSD trade I had around 4th June (see article).

Remember that nothing is guaranteed, so plan your trade and trade your plan.

Thank you for reading!!!

 

NOTE:

At the point of writing this article, I have NOT taken a long trade. If price does go higher, the set up will only happen in the next few days. Please do not take the trade unless they meet your rules. At this point, the set up is still pre-mature for me.

 

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