AUD/USD (Market Update): After an amazing bullish movement price has decided to start it's bearish trend. Now this isn't the overall trend. Price has closed -BELOW- our 4H trend since yesterday; but we have entered a strong consolidation. It seems that we have seen price have a trend-line rejection. Which can indicate a possible down-trend towards the 0.79000 mark.
If anyone has this -SELL- open I would recommend you to keep on holding it; as we haven't had any price confirmation to the up-side. If the candle ends up being a bearish candle, we would have a trend-line rejection. Which means we could enter a few more entries.
If you want more of a conservative approach I would recommend you wait for price to have a good 4H candle closing (In 1H and 20M). I am not excluding the fact of a -BUY- but we don't have any major confirmation.
If anyone has this -SELL- open I would recommend you to keep on holding it; as we haven't had any price confirmation to the up-side. If the candle ends up being a bearish candle, we would have a trend-line rejection. Which means we could enter a few more entries.
If you want more of a conservative approach I would recommend you wait for price to have a good 4H candle closing (In 1H and 20M). I am not excluding the fact of a -BUY- but we don't have any major confirmation.