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Learn How to Read Charts – CBD #56 – AUDUSD (350 Pip Move) | FxProNow.com | Forex Trading Tips



AUDUSD: BULLISH TP: Swing to 0.740 – 350 Pips #Forex #FxProNow
On the Weekly TF we see a level of support that is being held around 0.706
We saw a level of support being held at this area before…
Maybe this will be held again and we will find a retrace at this point.
We will have to see…
Just that there is not much to do with this pair since on the lower tf’s there is major consolidation…
So this is the only major move I see available for now.

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15 Comments

  1. FxProNow Student: Stan Mays – 18.1 – 1:08 – I've noticed from watching these CBDs that sometimes you enter trades on the uptrend and other times on the downtrend. I'm still having trouble knowing when to enter on uptrends and downtrends. These CBDs have been very helpful.

  2. Fxpronow Student Joseph so from what I understand is that Aud/usd is a overall downtrend based off the higher time frame weekly and daily. the price its located at a strong level of support. so entering for the retrace to 38.2 based of the weekly is ok to do because its big move to the upside. but overall its still a down trend based of the weekly?

  3. FxProNow Student: Robin Lloyd still trying to get the retest solid in my head. If there is a retest that is when you look for engulfing candle correct? I am starting to catch on tho. Thanks

  4. FXProNow Student: Jin Ogomoto |End of Ch.12| 5:07 – Is it a "Weekly Move" because the trend is hovering about the weekly key level or because the number of candles outlined by those resistance lines (purple) add up to at least a weeks time?

  5. FxProNow Student: Daniela Leiva- I can really see now how everything comes together especially how the monthly timeframe ending can influence future flow of the river.

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