AUDUSD on the HFT (higher timeframe) is in the bearish market structure, now the price is near the OB (order block) D1, so I expect here the price to take out the PWH (Previous weekly high) and PDH (Previous daily high), also to reject from that OB and important level of 0.74000. As well we can take into consideration the correlation with DXY (Dollar Currency Index) which is in the bullish market structure. If the price will not reject from that point, the next level for a short position will be 0.75000 and OB (order block) D1.
What do you think about this setup?
What do you think about this setup?
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