SpinTrades

AUDUSD Bearish Structure Break, Looking for Double Confirmation

Short
SpinTrades Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD took liquidity from the monthly high and has shown a potential reversal via a break of structure.

Monitoring this point of interest to scale in a short; ideally we would see a second break of structure for double confirmation. AUDUSD has been in a strong uptrend so additional confirmation is useful.

Targeting liquidity objectives below.
Trade closed: target reached:
Choppy action but gave additional confirmation that supply was in control, reached targets and additional liquidity objectives. Likely to continue lower.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.