AUDUSD 0.69427 +0.3% LONG IDEA

Good Day Everyone

A look at the AUDUSD pair from multiple time frames

MONTHLY

* Starting from the monthly we've been respecting a descending channel we are in a strong bullish momentum as the AUD regains streght agaisnt the DOLLAR looking for a push up to retest structure so the sentiment from the monthly us bullish on the pair.

WEEKLY

* Moving down to the weekly the sentiment is still the same, still within that descending channel structure but the picture becomes clearer as we can now determine we are trading in a pennant formation which could be signalling continuation to the upside so we are still NET long from both time-frame lets see the daily.

DAILY

* On the daily the chart has pretty much respected the Fibonacci retracement levels and we are about to break out of the pennant a break above this structure will be the signal to enter long on the pair looking for continuation to the upside.

Good luck and happy trading everyone


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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE

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