After breaking the weekly structure downward, AUD 200 has been in upward correction phase for a couple days while forming bearish Flag on 4hr TF. We can see downtrend continuation once it has retested the previous demand zone now turned supply zone as well as completing its 50% correction which also lies in that area. I will be looking for a Short Entry near the 0.5 Fib level.
Trade closed: stop reached
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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.