Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on DAILY: Left Chart
AUDUSD is sitting around a strong support zone so we will be looking for buy setups on lower timeframes.
Unless that support is broken downward, then further movement downward would be expected.
on H4: Right Chart
AUDUSD is forming an inverse head and shoulders but it is not ready to go yet.
Trigger => For the bulls to take over, we need a momentum candle close above the gray neckline.
Meanwhile, until the bulls take over, we would still be bearish and AUDUSD can still break the support downward.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on DAILY: Left Chart
AUDUSD is sitting around a strong support zone so we will be looking for buy setups on lower timeframes.
Unless that support is broken downward, then further movement downward would be expected.
on H4: Right Chart
AUDUSD is forming an inverse head and shoulders but it is not ready to go yet.
Trigger => For the bulls to take over, we need a momentum candle close above the gray neckline.
Meanwhile, until the bulls take over, we would still be bearish and AUDUSD can still break the support downward.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.