Potential Counter Trend Trade for a possible long

AUDUSD has been on a steady drop looking at it on the monthly time frame. However it has come to a major Monthly support area and showing some significant slow down in momentum. It is very more than likely to see price bounce off that area and start a bullish move.

I will however wait for a break of an immediate structure on the H4 TF retest the area before taking a trade. I recommend proper risk management if considering this trade.

Past results does not guarantee future results