The following is the four hour chart of AUDUSD as of FEB 15th, around 2AM EST. If you observe the chart you can see that it is going in a channel. The channel might be broken at any time and once the channel is broken with a strong candlestick it is a good opportunity to enter the trade in the direction of breaking. Check the following picture. But I would like to do the following. The second picture is an hourly chart of AUDUSD. If the support line of the channel that was in the four hour chart is broken in the hourly chart with a strong candlestick (no long tails) I will enter the trade. What do you guys say?
AUDUSD Channel in four hour chart
The following is the hourly chart of AUDUSD currency pair.
AUDUSD hourly chart
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