AUDUSD 4hour Analysis October 31st, 2021
AUDUSD Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We have spotted some consolidation at this high on AU with the trend clearly being overall very bullish.
Ideally, we’re looking to continue with this bullish trend and enter long on a bullish break of this ascending triangle pattern. Look to enter long on a convincing break or wait for a retest of the pattern.
Trade scenario 2: If we’re to look short on AU we would need to see a break below 0.75000 with a confirmed lower high below.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We have spotted some consolidation at this high on AU with the trend clearly being overall very bullish.
Ideally, we’re looking to continue with this bullish trend and enter long on a bullish break of this ascending triangle pattern. Look to enter long on a convincing break or wait for a retest of the pattern.
Trade scenario 2: If we’re to look short on AU we would need to see a break below 0.75000 with a confirmed lower high below.