AUDUSD could fill a candle wick before pushing down.
Since a big push to the downside, the market has been bullish for a few weeks before showing signs of exhaustion from the bulls. Huge bullish candles following up by even smaller candles followed up by a doji and a shooting star candle. This is a reversal sign. However, the market usually fills in the wick of a shooting star candle most of the time if there are still strong buying powers from the buyers. This pattern is quite common for the big hedge funds to make traders think that the market is becoming bullish before using the liquidity to push the price to the downside. Buying is still possible and TP will be somewhere at the end of the circled shooting star wick. After that, wait for the market to show bearish signs at the lower time frames for selling opportunity. This predicted push to the downside is also supported by the commitment of traders report suggesting that the hedge funds are adding more short positions. Therefore, there is a high possibility that the market can move to the downside after (possibly) filling in the wick of the circled candle first.
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