AUDUSD, wait for bearish confirmation.
Hello Traders,
Looking at the HTF we can see price is moving within a developing Descending channel which a lower low is anticipated with the short term growth of dxy in the next week. If we look at the LTF we can see that the price is correctively moving towards a double top range at top boundary of a smaller channel within the larger structure.
Only with bearish confirmation will I then enter this trade, if price impulsively breaks above 0.7065 it will invalidate a sell opportunity and will further look for selling range near the 0.7230 range.
Trade Safe
Thanks
Looking at the HTF we can see price is moving within a developing Descending channel which a lower low is anticipated with the short term growth of dxy in the next week. If we look at the LTF we can see that the price is correctively moving towards a double top range at top boundary of a smaller channel within the larger structure.
Only with bearish confirmation will I then enter this trade, if price impulsively breaks above 0.7065 it will invalidate a sell opportunity and will further look for selling range near the 0.7230 range.
Trade Safe
Thanks
