AUDUSD - Being shorted IIIIIIIFFFFFFFFFFF we have price action.
Easy pick here:
- Aussie has a clear downtrend as shown in its PRICE ACTION (just look at the highs (blue circles) and the lows (red circles);
- Right now, we could be making a new LOWER HIGH;
- But, for the previous statement become true, we need to wait for price to show us some reaction on that zone. How ? Well, if we wanna go further up, we have a monday's high and a nice resistance to break.
Although it seems a clear downtrend, we won't call anything until we see structure. It might be dangerous if that zone gets broken... Also, note that we have formed a double bottom and this 4HR zone (purple one) is its neckline. So, eyes on that.
Let's go!
- Aussie has a clear downtrend as shown in its PRICE ACTION (just look at the highs (blue circles) and the lows (red circles);
- Right now, we could be making a new LOWER HIGH;
- But, for the previous statement become true, we need to wait for price to show us some reaction on that zone. How ? Well, if we wanna go further up, we have a monday's high and a nice resistance to break.
Although it seems a clear downtrend, we won't call anything until we see structure. It might be dangerous if that zone gets broken... Also, note that we have formed a double bottom and this 4HR zone (purple one) is its neckline. So, eyes on that.
Let's go!
Trade active:
Trade going, but being monitored
Trade closed manually:
TP 1 has been hit. Now, let's monitor it so we can see any signal of reversal. Partially closed some lots.