Bullish Idea on AUDUSD
The weekly timeframe chart of AUDUSD shows price reacting already at a key demand level; forming the basis of the bullish sentiment.
In order to confirm an imminent entry, one can plot a trendline of the two previous highs that yielded a bearish break, and await a sufficient bullish impulse that can break above the trendline as well as the previous low. This confirmation can be done on the 4-hour and 1-hour timeframe with SL below the weekly low, and TP at the highlighted supply on the H4.
In order to confirm an imminent entry, one can plot a trendline of the two previous highs that yielded a bearish break, and await a sufficient bullish impulse that can break above the trendline as well as the previous low. This confirmation can be done on the 4-hour and 1-hour timeframe with SL below the weekly low, and TP at the highlighted supply on the H4.
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