AUDUSD BUY (Signal #3)

On the 1D and 4H chart we can see that there has been a very strong resistance developing.

Take a look at the chart:

1. Downtrend
2. First tap
3. Second tap
4. Third tap
5. Strong rejection to the downside, exhaustion from the sellers

We enter this trade assuming the resistance line will not be broken, as it seems like it is strongly valid. Enter this trade now.

Entry Price: 0.70296
Take profit: 0.71248 (100)
Stop loss: 0.69826 (50)