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BUY AUDUSD

by Rolando G, June 7, 2022

AUD/USD H1 Multi time frame

by Rolando Gonzales June 7, 2022

1
Share

AUD/USD

|

Long

|

H1

Timeframe:

H1

Analysis Method:

Multi time frame

Analysis:

The price bounced back from the low trendline of the correcting structure from the daily. It already made a V formation on the 4-hour time frame and then made a very nice continuation correction on the 1-hour and 15-minute time frames from which it broke up in an impulsive manner.

Trade Plan:

Move the stop loss to breakeven once the price reaches 1 to 1 in RR, Then if the price action allows then leave the trade running until it raches 3 to 1 in RR and decide if take profit or continue with the trade if the price action is favorable to continue to the previous high on the 4-hours time frame.

Risk Management:

One position 0.5% of risk

Things To Watch For:

Watch out for a possible bounce when the price reaches the top of the continuation correction structure of the 1-hour time frame

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DISCLAIMER

The trading ideas, analysis, and comments above should not be considered financial advice or recommendation to trade or invest in any financial product. Your personal situation has not been taken into consideration in the trade ideas. This page is for general educational purposes only. Do not buy or sell any product discusses on this page before doing your own research. Always do your own analysis and research and be aware of the risks involved in trading any financial product.

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