Anticipating a move lower on AUD after a sustained run that started Nov 2nd.
The past few days has seen price start to top with some sideways consolidation showing buyers are hesitant to keep pushing prices higher. This also has the added benefit of allowing time to take profit for anyone who was long the past month. This latter factor may cause a trap top side as it shakes out anybody who didn't take profit, or has just entered long.
Initial idea is a play of the 5min wedge which we'd need to break bearish before we could enter. It is an incredibly micro signal and so we may not be able to fully capitalise on the entire down leg if this entry does present itself.
With that in mind I will continue to look for 30min entries to hopefully ride for several days.
In terms of bullish continuation, we'd need to see a clear break of 75800.
Check out my blog
rucksack.medium.com
The past few days has seen price start to top with some sideways consolidation showing buyers are hesitant to keep pushing prices higher. This also has the added benefit of allowing time to take profit for anyone who was long the past month. This latter factor may cause a trap top side as it shakes out anybody who didn't take profit, or has just entered long.
Initial idea is a play of the 5min wedge which we'd need to break bearish before we could enter. It is an incredibly micro signal and so we may not be able to fully capitalise on the entire down leg if this entry does present itself.
With that in mind I will continue to look for 30min entries to hopefully ride for several days.
In terms of bullish continuation, we'd need to see a clear break of 75800.
Check out my blog
rucksack.medium.com
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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.