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Audusdidea

AUDUSD Swing IdeaOur mirror line (orange) clearly shows us that price has been in replica. Price is currently creating a rising wedge towards the 61.8 Fibbo line and our trendline. I am anticipating a third touch of our trendline, followed by a drop. Price has already rejected at the 61.8 and may still drop anytime now. A clear break and close below the wedge will trigger short positions and my target profit will be the -27 extension, which is very close to our next key level. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio
Short
by Magnatrio
AUDUSD Swing SetupDont rush the market. Let price come to you. Allow your setups to build. When your confluences are all aligned, open your positions. I am currently waiting for price to break and retest the trendline. An earlier entry was missed, but that means no harm and this current setup was meant to be my second entry. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key #Trade_Like_A_Magnate
Long
by Magnatrio
1
AUDUSD is at a critical levelAUDUSD was rising from last year creating upward channel & currently is at a critical area. Most recent support is 0.7380 & resistance is 0.7620. We can predict 2 scenerios. Scenerio 1: Break above the resistance will confirm uptrend continuation. Sceneio 2: Break below support will expose major down fall to the next support area which is at 0.70 level. If dollar gains strength then scenerio 2 is more likely to play out. Or reverse can happen otherwise. At this point I am more curious to see it's breaking out from one side rather than taking positions.
Long
by DontStopTrading