AUDUSD Return to the uptrend?
Bottom line - I'm waiting on an entry signal to return to the uptrend.
I'm looking at...
It could very well retest the 0.382, which has been much respected and drop down to the red trendline from the daily chart.
Or we look for an entry signal at the 0.5 or 0.618. Also S&R near the 0.618 from the previous structure.
Tight stop loss and partial take profit back up to the 0 and trail my stop up to 0.272.
Note - Looking good on the MacD daily chart.
I will follow up in the update below.
I'm looking at...
It could very well retest the 0.382, which has been much respected and drop down to the red trendline from the daily chart.
Or we look for an entry signal at the 0.5 or 0.618. Also S&R near the 0.618 from the previous structure.
Tight stop loss and partial take profit back up to the 0 and trail my stop up to 0.272.
Note - Looking good on the MacD daily chart.
I will follow up in the update below.
15 - 20 pip Stop loss at 0.775