The AUD/USD price shows a succession of lower highs, with the area around the round number at 0.7200 again acting as resistance.
Enter your emailPrice action remains choppy ahead of US CPI tomorrow.yesterday may have produced a losing long trade from the bullish price action bouncing off the support level I had identified at 0.7189, although I did warn this level looked very unreliable.Short Trade Ideas
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7223 or 0.7302Adjust the stop loss to break even once the trade is 20 pips in profit. Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7177 or 0.7123Adjust the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a
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