On February 24 2021 AUDUSD was showing bullish market patterns that was signalling traders that there was a high probability that the pair would make a move higher. The pair has been trending higher since the March 2020 bottom low and we at EWF always advise our members to trade with the trend and not against it.
I posted the AUDUSD buy trade on social media @AidanFX “AUDUSD LONG at 0.7920 Stop Loss at 0.7880 TP at 0.7960 – 0.7980 area.“
The charts below will clearly show the various bullish market patterns that could signal traders to be confident on squeezing the “BUY trigger”
15 Minute Chart February 24 2021 (Ascending Trend Line Support)
15 Minute Chart February 24 2021 (Dynamic Moving Average Support)
15 Minute Chart February 24 2021 (Support Zone)
15 Minute Chart February 24 2021 (Bullish Divergence)
15 Minute Chart February 24 2021 (Bullish Pattern)
15 Minute Chart February 24 2021 (Bullish Breakout Pattern)
The pair eventually moves higher and on February 25 2021 price hits the 1:2 RR target at the 0.8000 (psychological level) from the 0.7920 entry for +80 pips. By the end of the trading week the pair reversed lower from this psychological level but I already hit my target level and closed the LONG/BUY trade way before the move lower. If you followed me on social media @AidanFX you too could have caught the AUDUSD move higher. We at EWF never say we are always right. No market service provider can forecast the markets with 100% accuracy. Only thing we at EWF 100% is that we are RIGHT more than we are WRONG.
AUDUSD 15 Minute Chart February 25 2021
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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