AUDUSD profit target reached perfectly, prepare to buy
Buy above 0.7877. Stop loss at 0.7846. Take profit at 0.7938.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 0.7846 (Fibonacci retracement, horizontal pullback support) for a push up to at least 0.7938 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above 7.2% where we expect a bounce from.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 0.7846 (Fibonacci retracement, horizontal pullback support) for a push up to at least 0.7938 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above 7.2% where we expect a bounce from.