AUDUSD Big Short Looming - Check Monthly

Big short coming again.

Over extended on the channel.
GDP q/q news came out negative, due to corona virus impacts on the economy.

See monthly chart below.

코멘트:

Left side Monthly Chart. Strong Bearish Channel. Price has been respecting it and only retraced due to measured target move complete, with a lot of profit taking after an extended move down.
We SHOULD see downward pressue come in and reject the break of this channel as we come down muc hfurther down into the next measured move that i drew out at the 0.4420 area.

코멘트:

If doesn't break below in the short term, then i'm looking for a double top structure here.

코멘트:

Care for these 2 moves (Left and Right)

코멘트:

Strong 15 min bearish close and a decent sell

코멘트:

Top of trading range aswell so should see some shorts enter on the failed breakout of the trading range.

코멘트:

Strong 15 min bar. Reasonable short.

코멘트:

More follow through and i like the chances of short here :)

코멘트:

Broke below a wedge structure. Looking for follow through.
Have to head out of the house. Look out for both sides of the equation from both bull and bear perspective.
Goodbye for now fellow traders.

코멘트:

코멘트:

Here's the next moves that i see. Rejection on the monthly, bearish trendline/channel.

코멘트:

Goodnight everyone, i will personally be holding my position short.

All the best. There's another opportunity after this next correction ends. (Wave 2)

코멘트:

Update: The train is moving along accordingly.

코멘트:

It was an extended Wave 2 correction which coincides as a double top as shown on the right side (60 min chart)

코멘트:

Friends, if you liked this analysis, please like and follow me for more chart ideas. <3 Thanks a lot!

코멘트:

Pullback coinciding with 3rd push up on a transitional triangle.
A lot of movement downwards. EXPECTING a breakout below.

코멘트:

Potential Reversal Zone

코멘트:

Good possible short. Needs follow through shorting

코멘트:

This is a potential drop zone here.