AUDUSD profit target reached perfectly, prepare to buy
Buy above 0.7534. Stop loss at 0.7513. Take profit at 0.7593.
Reason for the trading strategy (technically):
Price has plummeted to our profit target. We look to buy above 0.7534 support (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7593 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (34,3,1) is seeing major support above 1.2% where we expect a corresponding bounce from.
Reason for the trading strategy (technically):
Price has plummeted to our profit target. We look to buy above 0.7534 support (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7593 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (34,3,1) is seeing major support above 1.2% where we expect a corresponding bounce from.