AUDUSD Short Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: The higher weekly timeframe is bullish but the daily and lower is very bearish. The support level price action is currently at (0.76000) will be the deciding zone for the weekly trend. Ideally, we want to see a break of support and continuation of this bearish trend. Look to enter short after a confirmed lower high below 0.76000 and target lower toward the -27% fib level.
Trade scenario 2: For us to consider AU bullish again we need to see a break of 0.76800 with a higher low above. You could catch a lower timeframe long opportunity and play the range if price action reverses at the current level.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: The higher weekly timeframe is bullish but the daily and lower is very bearish. The support level price action is currently at (0.76000) will be the deciding zone for the weekly trend. Ideally, we want to see a break of support and continuation of this bearish trend. Look to enter short after a confirmed lower high below 0.76000 and target lower toward the -27% fib level.
Trade scenario 2: For us to consider AU bullish again we need to see a break of 0.76800 with a higher low above. You could catch a lower timeframe long opportunity and play the range if price action reverses at the current level.
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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.
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.