AUDUSD Big Short May be coming now
We may be seeing the AUDUSD short coming now, as more candles are printed, we see a clearer image.
We have not broken the uptrend line and tapped the other side with a double top. Bears entering the market right now.
Strong Bear closes on the higher time frame will give a good indication of possible direction.
Wedge Pattern created and rejection shown.
The bigger the move (the higher the return) the lower the probability so be wary of that. It needs to be a strong indication on the higher time frames to improve the odds of a successful trade.
I want to see the 4 hour close strongly bearish.
We have not broken the uptrend line and tapped the other side with a double top. Bears entering the market right now.
Strong Bear closes on the higher time frame will give a good indication of possible direction.
Wedge Pattern created and rejection shown.
The bigger the move (the higher the return) the lower the probability so be wary of that. It needs to be a strong indication on the higher time frames to improve the odds of a successful trade.
I want to see the 4 hour close strongly bearish.
Comment:
Correction on 2nd line: * "We HAVE broken the uptrend line"
Comment:
Monthly: Left Side.
Strong Bearish Channel. Price has been respecting it and only retraced due to measured target move complete, with a lot of profit taking after an extended move down.
We SHOULD see downward pressure come in and reject the break of this channel as we come much further down into the next measured move that i drew out at the 0.4420 area.
We could end up squeezing into a wedge but lets just wait and see how the market moves.
Strong Bearish Channel. Price has been respecting it and only retraced due to measured target move complete, with a lot of profit taking after an extended move down.
We SHOULD see downward pressure come in and reject the break of this channel as we come much further down into the next measured move that i drew out at the 0.4420 area.
We could end up squeezing into a wedge but lets just wait and see how the market moves.
Comment:
3 pushes up with a bigger wedge pattern and a smaller wedge at the tip with 3 pushes up again.
Price wicked the extreme and is now rejecting.
Double Top created on the other side of the broken uptrend line and broken wedge.
Bears entering. Higher time frame chart will give higher probability entry but with wider stop. The choice is yours as there's an inverse relationship between risk/reward and probability.
Want to see higher time frame strength with bears.
Price wicked the extreme and is now rejecting.
Double Top created on the other side of the broken uptrend line and broken wedge.
Bears entering. Higher time frame chart will give higher probability entry but with wider stop. The choice is yours as there's an inverse relationship between risk/reward and probability.
Want to see higher time frame strength with bears.
Comment: