AUDUSD Analysis: Shorting Opportunities Amid Retracement
For those eyeing AUDUSD, here's my take:
While some might be tempted to buy, anticipating a retracement (UP) due to the recent price action, I'm not focused on buying opportunities. Instead, I have more strategic shorting setups in mind.
4-Hourly Chart:
- Resistance Levels: Waiting for a retest at 0.6638 or a retest of the channel for shorting opportunities.
1-Hourly Chart:
- Resistance Levels: 0.6595, 0.6613, and 0.6636.
- Preferred Entry: 0.6636 is my ideal shorting price, as it aligns with the key resistance level.
What's your trade plan for AUDUSD? Comment down below and share your insights!
Happy trading!
While some might be tempted to buy, anticipating a retracement (UP) due to the recent price action, I'm not focused on buying opportunities. Instead, I have more strategic shorting setups in mind.
4-Hourly Chart:
- Resistance Levels: Waiting for a retest at 0.6638 or a retest of the channel for shorting opportunities.
1-Hourly Chart:
- Resistance Levels: 0.6595, 0.6613, and 0.6636.
- Preferred Entry: 0.6636 is my ideal shorting price, as it aligns with the key resistance level.
What's your trade plan for AUDUSD? Comment down below and share your insights!
Happy trading!
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