AUDUSD Bullish Three Drives Pattern Update
Aussie reached the area of the entry of the three drives pattern.
Setup of the Pattern:
Trade: Long
Entry: 0.6942 – 0.6927
Stop: 0.69
Targets: 0.6958 / Achieved 0.69730 0.69820
Note: The main trend is still bearish . This pattern can be used as a near-term buying opportunity
Update: Price reached the TP1. What’s next?
AUDUSD needs to break above 0.69580 in order to continue its recovery. Long Positions can be added if the price breaks above 0.69580.
If the price can not break above 0.69580, it is likely to go down and test 0.69270 support. A fresh long opportunity can be used at 0.69270.
VERIFIED ACCOUNT AND SETUP RESULTS
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
AUDUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility
