AUDUSD 4H Continuation for week of 01.16 01.23
4H Double Bottom around the 0.71600 level followed by a break in structure to the upside.
Looking for the price to get down to my entry point at 0.7155 before testing the last market high.
Multiple Time-frame Analysis shows a daily break in structure to the upside as well, while the weekly chart used last week to test the last market high by breaking and finishing below. The weekly chart held the support at 0.7000 in the beginning of December and the 4H trend reversal to the upside is being supported by the multiple time-frame analysis.
This idea is also supported by DXY forming double tops and breaking structure to the downside; showing that if price holds all relevant price levels and zones that the two charts are supporting eachother in terms of trade ideas.
(I have only been trading for 2 years now and If you have anything educational please comment)
Looking for the price to get down to my entry point at 0.7155 before testing the last market high.
Multiple Time-frame Analysis shows a daily break in structure to the upside as well, while the weekly chart used last week to test the last market high by breaking and finishing below. The weekly chart held the support at 0.7000 in the beginning of December and the 4H trend reversal to the upside is being supported by the multiple time-frame analysis.
This idea is also supported by DXY forming double tops and breaking structure to the downside; showing that if price holds all relevant price levels and zones that the two charts are supporting eachother in terms of trade ideas.
(I have only been trading for 2 years now and If you have anything educational please comment)