FOLLOW UP STRUCTURE | AUDUSD

Tendency: Uptrend ( Bullish )
Structure: Harmonic | Channel | Supply & Demand
Observation: i. Sellers have found it difficult to push lower as price is caught in the demand zone since impulse leg.
ii. Rejection of Demand zone since 5th of Aug, 2019 emphasizes the strength of buyers in the market.
iii. Price action forming an Ascending channel as price drops (rejects 0.70000level) into completion which might complete a Cypher (green structure in background).
iv. Price action above Moving Averages.
Trading plan: BUY possibility with minimum potential profit @ 280 pips.
Risk/Reward: 1/3
Potential Duration: 10 to 20 days

** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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