possible short opportunity
AUDUSD has experienced 4 consecutive bullish week, and is on a start of pullback just initiated a few days ago after reaching high of 0.75463 (in challenge of 50MA on Weekly)
I expect it to pull back up a little bit on lower time fame (1H) and enter a short trade.
Note 1: it did bounce back up multiple times around 0.7455 area, so watch on this pair closely when shorting in case of bullish continuation
Note 2: Be aware AUDUSD is in a general BULLISH trend.
Entry: 0.74774
SL: above previous resistance, above mini downward trendline on hourly, around 0.75062
TP: Fib based, 0.74123; watch out at 0.74548 incase of another bounce which invalidates further down move
Expected Pips: 20-60 pips
Expected Timeline: 1-2 days
Disclaimer: Chart is static market is not. I learn from loss and mistakes like everyone. No financial advise is given here. Your money your own risk. :) And Good luck.
I expect it to pull back up a little bit on lower time fame (1H) and enter a short trade.
Note 1: it did bounce back up multiple times around 0.7455 area, so watch on this pair closely when shorting in case of bullish continuation
Note 2: Be aware AUDUSD is in a general BULLISH trend.
Entry: 0.74774
SL: above previous resistance, above mini downward trendline on hourly, around 0.75062
TP: Fib based, 0.74123; watch out at 0.74548 incase of another bounce which invalidates further down move
Expected Pips: 20-60 pips
Expected Timeline: 1-2 days
Disclaimer: Chart is static market is not. I learn from loss and mistakes like everyone. No financial advise is given here. Your money your own risk. :) And Good luck.
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