AUDUSD - SHORT SETUP - SELL
Once the price is able to break through here; 0.68441, the next stop with some resistance to breakthrough is most likely 0.67899
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Price retested and broke through 0.68441, the next stop with some resistance to breakthrough is now 0.67899Note
TP 1 Reached.. We can now see the price facing some resistance as projected earlier. If the price is able to break through this, the next stop with a delayed running resistance will most likely be .66970 rangeNote
The perception that bearish trends are slower compared to bullish trends is a common observation in financial markets. While this notion may hold true in certain situations, it is essential to understand that the speed and duration of both bullish and bearish trends can vary significantly based on various factors.It's essential to recognize that while bearish trends may seem slower, they can still be significant and have substantial consequences for investors. As an investor, understanding market dynamics, conducting thorough research, and applying risk management strategies are crucial for navigating both bullish and bearish trends effectively.
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TP 2 Reached.. A complete and clear reversal can now be seen looking at the price. Economically, the projection is that price would have fully reversed before the FED meeeting on the 28th. Economically, that may be a big price mover, so be cautious moving forwardTrade active
AUDUSD is currently retesting the TP1 resistance again. It has now been tested and failed twice. There is a high probability that it will start heading back down. The advantage here now is that if the price breaks through TP2 again, it would have broken the BULLISH Higher Low trend causing a complete and almost full reversal to Bearish. These moves would almost guarantee the TP 3 path. Trade safely and this is not financial advice
Note
Price retested TP2 for bullish reversal and has been rejected on the 1hr structure frame. The projection is now headed towards 0.66554 before 0.6600. Price is seeing a huge delay in SELLING. this is economically due to the hesitation that investors may be having about the Inflation data coming in tomorrow for Australia, and the FED interest decision on Wednesday. do not trade with the news but still trade economically. Trade safely!Trade closed: target reached
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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.