I am also following the channel on daily timeframe. Are you not worried though that you are entering just as there has been a large indecision candle followed by a large bullish candle? There is no prvious resistence until round the 1.0614-1.0700 so price could get real close to your stop. Dont get me wrong i think price is going to drop just not sure if entering at this moment without some price action to back it up.
please help me i am also a new member soi work at etoro so is that safe to buy AUD/USD so that can i be in profit please let me know
I would say no, it's not safe to buy it. As the chart shows, price action is bearish after it approached the channel resistance. If you think it will continue to follow the pattern, then you would go short.
Personally, I would rather wait until it bounces off of the channel support and then go long. That way I get to hang with my friend named Trend. It should take maybe about a week for that setup to be ready. The recommended trade is nice though.