FOREXCOM:AUDUSD After the rejection from monthly & weekly resistance.
I’m on the bearish side on AUDUSD for now.
Let’s see what is the reaction of the price in the next few days!
price will start a down trend. from 0.7765 to about 0.7680
ENTRY PRICE = 0.7735
T/P =0.7680
S/L = 0.7750
Risk/Reward Ratio : 3.67 FOREXCOM:AUDUSD
The Daily candles show difficulty going up with the most recent candle closing bearish. The 4H structure has shifted by creating a Lower Low and is currently in a pullback.
This week, a shift of 1H structure will mean that the 4H is ready for the bearish impulse.
Note:
This is for educational purposes only and not a signal.
In my last post (June 2017) I discussed two scenarios. The first scenario worked well.
The pair broke out of consolidation, thus crossed the first strong pressure zone Z1. It faced resistance from a minor pressure zone (labelled on the chart) and pulled back for a retest of the breakout level before resuming its uptrend towards the next major pressure zone Z2....
