AUDUSD : Market’s Overview

AUDUSD : using ICHIMOKU KINKO HYO and looking at the DAILY Time-Frame of the pair, we see a “double bottom” bullish reversal pattern forming in the shape of a “W”. There are two options : we either decide to trade the move from where price currently is up to the completion of the “W”‘s right wing which will happen after we have a bullish KUMO Breakout on Daily with price reaching the 0.7200 level, or we WAIT for the completion or no completion of the pattern before we make any trading decision. In case we want to BUY trading the move as high as it goes, we definitely have to wait for a bullish candlestick to close above Tenkan Sen on DAILY TF. And that will most possibly happen on Monday. After that, we can use my ICHIMOKU 4 Time-Frames Strategy 🙂

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