Hi Traders!
The market is in a Longterm Uptrend and also in a Shortterm Downtrend.
Key Areas:
- Trend Continuation
- Breakout Trading
- Bullish Flag
- Bullish Trianlge
- 200MA bounce
Description:
The market is in a Longterm Uptrend, confirmed due the help of the D1-Timeframe.
The recent highest Point of the market is the Resistance at 1.14400.
After the market reached the Resistance, it falled back.
The distance was around 270 pips.
This Down-Movement was in a Parallel Channel.
After it reached the Support at 1.11600 it moved up again.
This movement is respecting both, the Parallel Channel and the Triangle.
The idea is the Trend Continuation, because the market is now near the 200MA.
In our last community idea on AUDUSD, we shared what that means:
These are factors, why a bullish Breakout is likely to happen.
In addition, the MACD just made a Bullish Crossover too.
We recommend to trade the Breakout on a closed candle, to avoid false Breaks!
Thanks and successful Trading :)!
The market is in a Longterm Uptrend and also in a Shortterm Downtrend.
Key Areas:
- Resistance @ 1.14400
- Support @ 1.11600
- Parallel Channel (purple) - descending, in action
- Triangle (pink) - ascending, in action
- 200 Exponential Moving Average - supporting
- Trend Continuation
- Breakout Trading
- Bullish Flag
- Bullish Trianlge
- 200MA bounce
Description:
The market is in a Longterm Uptrend, confirmed due the help of the D1-Timeframe.
The recent highest Point of the market is the Resistance at 1.14400.
After the market reached the Resistance, it falled back.
The distance was around 270 pips.
This Down-Movement was in a Parallel Channel.
After it reached the Support at 1.11600 it moved up again.
This movement is respecting both, the Parallel Channel and the Triangle.
The idea is the Trend Continuation, because the market is now near the 200MA.
In our last community idea on AUDUSD, we shared what that means:
These are factors, why a bullish Breakout is likely to happen.
In addition, the MACD just made a Bullish Crossover too.
We recommend to trade the Breakout on a closed candle, to avoid false Breaks!
Thanks and successful Trading :)!
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Here is the RED BOX, but in Big:
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