21.08.202311:47 Forex Analysis & Reviews: Tips for trading AUD/USD

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AUD/USD showed signs of a slowdown after breaking through the June high.

Market players can start looking for long positions even at the current prices, accumulating small volumes according to this trajectory:

Considering the three-wave pattern (ABC), where wave A represents the upward movement on Thursday, traders could buy at current prices, with stop-loss at 0.63800 and take-profit at the breakdown of 0.69000.

The trading idea came from the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

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