AUDUSD have been trading in a ascending channel for the past few days, from this we know that it is in the consolidation phase. On a the 4 h timeframe we can also see that it is reaching the previous high, which might be an indication of a double top in play.
Based on these information, i would most likely want to short this pair in the upcoming week. my entry would most likely be the middle of my AOI (Area of interest) zone. this is because price tend to form a fake reversal pattern before reaching a strong AOI. this is to stop out the retail traders and generate some liquidity so that the price can move to its supposed direction
Based on these information, i would most likely want to short this pair in the upcoming week. my entry would most likely be the middle of my AOI (Area of interest) zone. this is because price tend to form a fake reversal pattern before reaching a strong AOI. this is to stop out the retail traders and generate some liquidity so that the price can move to its supposed direction