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AUDUSD trading plan outlines conditions for a continuation move higher
The proposed setup would be canceled if price pushes above the range high without first moving back below the equilibrium level or the demand zone.
Action Forex lays out a conditional AUDUSD bullish scenario built around Elliott-wave style levels, saying a continuation move higher should be considered only if price is able to tap a designated demand zone after dipping below an equilibrium level.
The article says that if price keeps moving higher above the range high without tapping below the equilibrium level or the demand zone, the trade setup should be canceled.
It also emphasizes that traders should line up multiple strategies before entering, and that risk and money management should be used since no market service can provide 100 percent forecasting accuracy.