Hello Traders,
I pointed out two channels on the chart in H4 timeframe, price is at the center line of the bigger channel (Pink) and at the top of the smaller one (Green). I expect to see a reaction here and I believe its good opportunity to go short in AUS/USD.
My analysis is based on m30 so it is a short term analysis but there is a possibility of becoming a medium term.
There is a time cycle zone (two vertical lines) in m30 timeframe which shows good time for strong correction or reversal.
Make sure to Like and follow so you will receive notification of analysis update in a real time.
Good luck
P.S. Note that this analysis is my opinion and might be wrong. It is not a trading advice.
I pointed out two channels on the chart in H4 timeframe, price is at the center line of the bigger channel (Pink) and at the top of the smaller one (Green). I expect to see a reaction here and I believe its good opportunity to go short in AUS/USD.
My analysis is based on m30 so it is a short term analysis but there is a possibility of becoming a medium term.
There is a time cycle zone (two vertical lines) in m30 timeframe which shows good time for strong correction or reversal.
Make sure to Like and follow so you will receive notification of analysis update in a real time.
Good luck
P.S. Note that this analysis is my opinion and might be wrong. It is not a trading advice.
Trade closed: target reached:
As mentioned, I expected to see a reaction in short term in m30 . It worked well and I am out. But it might continue downward more.