July 22nd $AUDUSD trade set up – Box moved!

July 22nd $AUDUSD trade set up - Box moved!

In yesterday’s $AUDUSD trend trade idea, we saw two competing trends coming to a decision point. At the time both the longer 4 hour trend and the more recent 1 hour trend were both respecting their trend lines. 24 hours later and the picture has changed, the 4 hour down trend line has been broken! As we have new news and no previous trade was opened, we can move the Box to take advantage of this new information. The Box has been moved to an area of previous resistance which overlaps the trend line and will trigger a long trade if prices now sees this area as support and a candle closes above the Box. If the area of support fails, the trend line will also have been broken and no trade will be placed.

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