AUDUSD - Waiting for Pullback - TREND-CONTINUATION Trade
Updated
Hi Traders!
As you can see the market is in an uptrend.
The market started rallying since it was at 0.55000.
After that the market went up.
But, why is it in an uptrend?
Actually, the market was not in an uptrend until it broke the resistance at 0.62000.
Until than, the picture was like that:
- Overall market in a downtrend,
- market now consolidating,
- waiting for trend continuation.
But then the market broke this level, so the picture is now:
- Market in a fresh uptrend,
- just broke the level,
- waiting for a retest,
- making profits in trend continuation.
We recommend to buy the successful retest of the breakout!
Thanks and good luck :)!
As you can see the market is in an uptrend.
The market started rallying since it was at 0.55000.
After that the market went up.
But, why is it in an uptrend?
Actually, the market was not in an uptrend until it broke the resistance at 0.62000.
Until than, the picture was like that:
- Overall market in a downtrend,
- market now consolidating,
- waiting for trend continuation.
But then the market broke this level, so the picture is now:
- Market in a fresh uptrend,
- just broke the level,
- waiting for a retest,
- making profits in trend continuation.
We recommend to buy the successful retest of the breakout!
Thanks and good luck :)!
Note
The special RED BOX, here in BIG again:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.