Although the technical setup is pretty good to short AUDUSD, the fact that bullishness of the rebound from its all times low contradicts the idea of selling.
Nevertheless, if the stop loss can be tight enough to short just the retracement of a strong reversal, there are still profits to be made.
AUDUSD has gained close to 90 pips in a day, and it is extremely rare to see the volume goes beyond 100 pips.
In other words, you can expect a retracement from today's bulls very soon, and thus an opportunity to make a profit.
Nevertheless, if the stop loss can be tight enough to short just the retracement of a strong reversal, there are still profits to be made.
AUDUSD has gained close to 90 pips in a day, and it is extremely rare to see the volume goes beyond 100 pips.
In other words, you can expect a retracement from today's bulls very soon, and thus an opportunity to make a profit.
Note
Do wait for some form of reversal signal before going in for a short. Sentimentally, the market doesn't really favours a short.Order cancelled
As expected, the market doesn't favour a sell for AUDUSD and the whole selling structure has been broken. (Which is why usually under such condition, one must take cautious in making a trade decision.)
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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.