AUDUSD: POSSIBLE SHORT OPPORTUNITY
Another promising short setup. Yesterday we closed with a Doji candle as sign of the price failing to break that key week level(consolidating price). So the price closed near the open price. Doji candle are power signals too, but have formed on very technical levels. As you can see this is formed on a very key level and saw that all the higher prices were no longer desired on that level, therefore all got rejected. after all the bullish move it was just correctional movement/ pull back rather. Therefore with this one i am only looking to sell the breakout to the downside. Looking at the weekly chart it also confirm my analysis. therefore yes we still on a downtrend on this one. remember the trend is your friend. So the pullback is finally over and it has confirmed the swing high(Lower High). So is the price gonna drop the bars hmmm, lets wait and see.
Good Luck :)
Good Luck :)
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.