Short Term rally into previous structure resistance: AUDUSD
The pair is currently in a consolidation ( see 4h channel as shown).
We saw a break above putting us in trend continuation mode.
The bullish gartley pattern lines perfectly with the 38.2% retracement.
Target 1 should be the channel at around (0.7477s)
Second TGT in anticipation of a breakout into previous resistance should be 0.7550s
Entry: 0.7450
SL: 0.7427
TGT1: 0.7477
TGT2: 0.7548
Remember, this is just a way to participate in a possible rally back into previous daily structure, while my overall bias on this pair is still short.
We saw a break above putting us in trend continuation mode.
The bullish gartley pattern lines perfectly with the 38.2% retracement.
Target 1 should be the channel at around (0.7477s)
Second TGT in anticipation of a breakout into previous resistance should be 0.7550s
Entry: 0.7450
SL: 0.7427
TGT1: 0.7477
TGT2: 0.7548
Remember, this is just a way to participate in a possible rally back into previous daily structure, while my overall bias on this pair is still short.