My first Finlogix analysis today goes to the AUDUSD pair.

I’ve made a bad long call last Thursday resulting for a loss:

https://www.finlogix.com/analysis/20240321/audusd-intraday-analysis-and-trading-plan-for-march-21-2024

My overall standing is now 3 wins and 5 losses.

There is only 1 Australian high impact economic report due on Wednesday this week and it’s the CPI year-over-year.

Previous CPI reports since November 2023 have frustrated Aussie long bets and who knows we might see higher than expected result this coming Wednesday.

Re-assessing AUDUSD’s high timeframe candles:

Yearly Candle: Still a Red Body with a Longer Tail Wick since last check

Monthly Candle: Last check is a Green Body with a Longer Head Wick now a Green Long Upper Shadow

Weekly Candle: Previous close is a Red Long Upper Shadow current is developing a Green Body

Daily Candle: Friday close is a Red Body with a Longer Head Wick current is developing a Green Body

AUDUSD’s gains are pullbacking based on the current monthly candle structure.

A bearish price action last week while current is trying to rally, recovering the losses.

In few days, I speculate the pair to move up and stay in a Green March finish.

With the previous trade plan didn’t go accordingly, I am likely seeing a drop first before a next up wave comes so I’ll be focusing setups only.

A breakout has also not commenced above the flipped S/R but it’s good to see that the HL trendlined mentioned last time has remained intact.

The plan for today is to long a potential sell side liquidation below last week’s lows.

I’m setting up the stop loss below the HL trendline, from here we might see a total fallout invalidating a bullish thesis.

I’m targeting a potential lower high with a 4.54 catapult trade.

Here are the updated long entries to observe:

A more than 100-pip move TP target with a minimal risk.

For now the flipped S/R remains a supply area with a strong rejection last Thursday’s breakout rally attempt.

AUDUSD Intraday Analysis and Trading Plan For March 25, 2024

Mar 25 2024

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