AUD/USD - major support tested, possible accending wedge 4HR
Hi all,
Here we have the 4 HR chart on the AUD/USD, as you can see we have tested a major trendline twice, with good retracements suggesting good support, and resistance been tested 3 times which as you can see by the chart, we may have an accending wedge/triangle,
We have a 2 areas (grey boxes) where there could possibly be a range/consolidation to gain afew pips too.
Once the resistance is broken, wait for a retest to have a Conservative entry, or a green candle could be an aggressive approach.
* This is not financial advice, this is for educational purposes only, all feedback back is welcomed, *
Good luck and trade safe
L
Here we have the 4 HR chart on the AUD/USD, as you can see we have tested a major trendline twice, with good retracements suggesting good support, and resistance been tested 3 times which as you can see by the chart, we may have an accending wedge/triangle,
We have a 2 areas (grey boxes) where there could possibly be a range/consolidation to gain afew pips too.
Once the resistance is broken, wait for a retest to have a Conservative entry, or a green candle could be an aggressive approach.
* This is not financial advice, this is for educational purposes only, all feedback back is welcomed, *
Good luck and trade safe
L
Possibly trade the range if your feeling brave - otherwise await the break and retest of the accending wedge 🤞
* This is my opinion, this is not financial advice, educational purposes only *