AUDUSD Bullish Flag Pattern Provides Buy Opportunity

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AUDUSD Bullish Flag Pattern Provides Buy Opportunity

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Disclaimer : This is not investment advice. Past performance is not an indicator of future results.

Hi Traders! AUDUSD bullish flag pattern provides buy opportunity. A detailed analysis of this buy setup is as follows:

AUDUSD D1 Chart:

On the daily chart we have a bullish divergence that has formed based on the MACD indicator which we may consider as an evidence of bullish pressure. We may now look for bullish setups with more bullish evidences on lower timeframes in order to join the bulls.

AUDUSD Bullish Flag Pattern Provides Buy Opportunity

 

AUDUSD H4 Chart:

On the H4 chart we have a bullish flag pattern that has formed and the price which is respecting this pattern so far has currently reached the top of it. If we get a valid breakout above this pattern, we may then look for more evidences of bullish pressure on lower timeframes in order to join the bulls.

AUDUSD Bullish Flag Pattern Provides Buy Opportunity

 

AUDUSD H1 Chart:

On the H1 chart we have a bullish divergence that has formed based on the MACD indicator which we may consider as an evidence of bullish pressure. If the price moves higher and breaks above the high shown in the screenshot we may then look for pullbacks and buys with more bullish evidences.

AUDUSD Bullish Flag Pattern Provides Buy Opportunity

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Not sure how to spot reversals (bounces)? Not sure how to spot breakouts?

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

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Andrew

Any ideas on USDCAD?

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Andrew

Thank you, noted