AUDUSD ABCD Setups and double bottoms retest
Managed to catch that ABCD trade this morning and I'm now watching over 2 possible setups.
If price reach 0.8742 it will complete another ABCD at todays key resistance. It's my best setup for a trade back down and retest the double bottom support where I would love to take a long entry if a proper structure forms.
However on the 4hr chart price has bounced off from an important key level at 0.86872 indicating a rally back up to retest >0.8780? Right now I'm stuck with a short trade taken from 0.8728 which I'm not surprised if stopped out. Price missed target 1 by 1pip.. If ABCD fails to hold at 0.87423 then the rally is confirmed for today and I will have to back off and come back tomorrow.
If price reach 0.8742 it will complete another ABCD at todays key resistance. It's my best setup for a trade back down and retest the double bottom support where I would love to take a long entry if a proper structure forms.
However on the 4hr chart price has bounced off from an important key level at 0.86872 indicating a rally back up to retest >0.8780? Right now I'm stuck with a short trade taken from 0.8728 which I'm not surprised if stopped out. Price missed target 1 by 1pip.. If ABCD fails to hold at 0.87423 then the rally is confirmed for today and I will have to back off and come back tomorrow.