AUDUSD H4 | Rising into confluence of Fibo resistance |
انتشار: مهر 25، 1402
بروزرسانی: 10 اردیبهشت 1404

AUDUSD H4 | Rising into confluence of Fibo resistance |

Type
Bearish Reversal

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% and 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.



منبع: https://www.tickmill.com/blog/audusd-h4-rising-into-confluence-of-fibo-resistance-17th-october-2023To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

Preference:
Price is rising towards the pivot point of 0.6385 which is an overlap resistance that aligns with a confluence of Fibonacci levels i.e. the 61.8% retracement and the 61.8% projection levels; we could see momentum carry price down to its 1st support at 0.62939 which is a multi-swing-low support level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 0.64466 which is a swing-high resistance level.

Past performance is not indicative of future results.

Title
AUDUSD H4 | Rising into confluence of Fibo resistance

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

نویسنده: تیم تحریریه رضا خانتاراج