AUDUSD (11/8/20)
Updated
D - bullish candles showed strong momentum to the upside but is holding support at the structure level. While bullishly price had broken the sequence.
4h - Price is consolidating but is holding support. So with price breaking the sequence and within the consolidation, there is a lot of wicks testing the support area.
1hr - Price did gap but looking back I do see price exhausted and holding still and looking left bullish candles are strong, so there could be possibility for price to keep going upward.
Would like to see price pull back to the 23% and hold at that level or even the 38%. (If) price doesn't then looking for price to take out some levels to move in the opposite direction (moving short) if the price doesn't sub stain the bullish trend
4h - Price is consolidating but is holding support. So with price breaking the sequence and within the consolidation, there is a lot of wicks testing the support area.
1hr - Price did gap but looking back I do see price exhausted and holding still and looking left bullish candles are strong, so there could be possibility for price to keep going upward.
Would like to see price pull back to the 23% and hold at that level or even the 38%. (If) price doesn't then looking for price to take out some levels to move in the opposite direction (moving short) if the price doesn't sub stain the bullish trend
Note
The Aussie dollar is starting to lose value. With a H&S at play, the USD is starting to show some strength.
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