Bullish bias on AUDUSD weekly timeframe
Position: Long
Entry date: The new daily candle on 05/27/2024 should trigger the entry at 0.66365.
Stop-loss: 0.65922
Risk/reward: 1:2.19
Swap: It's quite low considering that this trade is supposed to be held for about 7 days, and the interest rates on AUD/USD are not significantly different.
Pros:
1) The monthly trend is bullish.
2) The weekly timeframe shows a potential 2-1-2 Bullish Continuation pattern.
3) The daily timeframe shows a potential 2-2 Bullish Reversal, which we can use as an ancipated entry to trigger the weekly.
Cons:
1) In a week, the monthly timeframe changes, potentially triggering entries but not reaching the TP and then reversing direction at the flip.
Entry date: The new daily candle on 05/27/2024 should trigger the entry at 0.66365.
Stop-loss: 0.65922
Risk/reward: 1:2.19
Swap: It's quite low considering that this trade is supposed to be held for about 7 days, and the interest rates on AUD/USD are not significantly different.
Pros:
1) The monthly trend is bullish.
2) The weekly timeframe shows a potential 2-1-2 Bullish Continuation pattern.
3) The daily timeframe shows a potential 2-2 Bullish Reversal, which we can use as an ancipated entry to trigger the weekly.
Cons:
1) In a week, the monthly timeframe changes, potentially triggering entries but not reaching the TP and then reversing direction at the flip.
ملاحظة
Here we have some fundamental insights to support this idea. fxstreet.com/news/aud-usd-gathers-strength-above-06630-on-weaker-us-dollar-202405262311
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.