Do I Think AUDUSD Will Continue to Sell Today? Yes
Hey Rich Friends,
I think that AU will continue to sell today, this is what I am looking at. However, REMEMBER TO CHECK THE NEWS AND YOUR CHARTS BECAUSE IT IS NFP WEEK.
- Previous resistance in the supply zone
- Break of structure on the downside from the previous candle
- MOM is facing down but not yet below 0. You can wait for it to cross below 0 for added confirmation.
- STOCH is facing down, crossed below 80, and the orange line above the blue line. You can wait for it to cross below 50 for added confirmation.
- Candles are still above both EMAs so use caution here
You can do market execution or set a pending sell limit or sell stop to maximize your results in this potential trade idea. You can also use a previous high as a SL for a selling trade and a previous low as a TP.
Good luck!
- Peace and Profits, Cha
I think that AU will continue to sell today, this is what I am looking at. However, REMEMBER TO CHECK THE NEWS AND YOUR CHARTS BECAUSE IT IS NFP WEEK.
- Previous resistance in the supply zone
- Break of structure on the downside from the previous candle
- MOM is facing down but not yet below 0. You can wait for it to cross below 0 for added confirmation.
- STOCH is facing down, crossed below 80, and the orange line above the blue line. You can wait for it to cross below 50 for added confirmation.
- Candles are still above both EMAs so use caution here
You can do market execution or set a pending sell limit or sell stop to maximize your results in this potential trade idea. You can also use a previous high as a SL for a selling trade and a previous low as a TP.
Good luck!
- Peace and Profits, Cha
Trade closed: target reached:
TP 1 AND TP 2 HIT!
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