Is the decline in AUDUSD coming to an end? Looking at this H4 chart, AUDUSD dropped by 150 pips in May. The recent price movement might provide a hint that the decline is coming to an end. The Bears are finally backing off and the Bulls look ready to step in.
This is another trade idea generated by the Elite Swing Trader.
We want get into position when a breakout happens. So our approach below for this trade idea.
- Buy Stop: 0.69394
- Stop Loss: 0.69128
- Take Profit: 0.69695
When you no longer see the market giving you a lower low and lower high, it’s a good hint that the downtrend might be over. Of course, nothing is ever certain but this is a good way to look at the price action. Always look at the market structure and then decide what to do. If you cannot see a defined market structure, then it might be good to just stay out of the pair.
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With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.
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