To kick off the first day of trading after our 4 day Easter weekend, we have a bullish price action signal that has formed in great trending conditions on the AUDUSD major market.
AUDUSD has been on an obvious up tear the last few weeks and great buying opportunities have occurred after market weakness in this strong trend. Today a signal have formed after market weakness giving us a high probability opportunity to jump into this trend at a great price.
The signal has formed at a daily swing level, which normally act as strong turning points in trending markets and this happens to line up with the trend mean value creating a market hot spot which is discussed in more detail in the Price Action Protocol trading course.
If price breaks the Rejection Candle signal high then we could see the next bullish move upwards into higher highs, this market does look like it’s heading back up to the 1.06 weekly range resistance level.
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