AUDUSD 8/18/19
SHORT IDEA
1hr TF
Price action has held around the 0.690 area which is in confluence with the 78.6% fib level & the 200 ema
The option we are looking for is a break of structure (the grey zone at 0.677) before we can enter a short position to target back down toward the 0.67500 area
Ideally a strong bearish engulfing candle breaking structure would be a strong confirmation to enter on.
If price action fails to break lower we will need to see the 0.6800 zone broken before our sentiment changes to bullish . Then we can start to look for long positions.
SHORT IDEA
1hr TF
Price action has held around the 0.690 area which is in confluence with the 78.6% fib level & the 200 ema
The option we are looking for is a break of structure (the grey zone at 0.677) before we can enter a short position to target back down toward the 0.67500 area
Ideally a strong bearish engulfing candle breaking structure would be a strong confirmation to enter on.
If price action fails to break lower we will need to see the 0.6800 zone broken before our sentiment changes to bullish . Then we can start to look for long positions.