AUDUSD - Short Continuation
Really liking this potential setup today with all timeframes aligning to the short side.
Daily | Good retest of resistance level and the 50 EMA with a nice bearish confirmation day
4H | Ascending trend line broken that was holding up the lows after rejecting the 4H 50 EMA that caused the break
1H | Pretty messy H&S in my eyes that took place but the bearish tone is still visible for me and price broke down making a strong lower low
and lining up for a retest of the 1H 50 EMA at the pivot where I will look to get short
Daily | Good retest of resistance level and the 50 EMA with a nice bearish confirmation day
4H | Ascending trend line broken that was holding up the lows after rejecting the 4H 50 EMA that caused the break
1H | Pretty messy H&S in my eyes that took place but the bearish tone is still visible for me and price broke down making a strong lower low
and lining up for a retest of the 1H 50 EMA at the pivot where I will look to get short
Comment:
Higher timeframes also tying in with the setup. Monthly chart will close bearish rejecting the monthly 50 EMA which is a very clean double top on the weekly chart with the ideal target for sellers right around the major level around 0.77300 and the weekly 50 EMA
Trade closed: target reached:
Price played out pretty much picture perfectly lol. I just placed an order at the pivot which was triggered right around 1:30 AM PST time. Simple and great trade