Hey Guys,
Hope you have all been well and safe during this COVID Pandemic, things have seemingly slowed down, but can never be too sure until we find a vaccine for this damn thing! Anyways....
I've been personally riding the downward trend wave of the AUDUSD on the daily for a couple weeks now.
Until we break upward of the daily downward trend line, I will continue to short. So here is a nice little trade setup, we can wait for a confirmation candle, however, this is what my entry is going to look like.
Reasons why I'm shorting
1. Daily Bearish Trendline
2. Strong Resistance Zone
3. RSI going to be overbought soon
4. Disparity in Buying Volume
5. 4 hour trend line broken, waiting for break in bearish momentum
We can just see how this goes as their isnt really any confirmation
HAPPY TRADING
Hope you have all been well and safe during this COVID Pandemic, things have seemingly slowed down, but can never be too sure until we find a vaccine for this damn thing! Anyways....
I've been personally riding the downward trend wave of the AUDUSD on the daily for a couple weeks now.
Until we break upward of the daily downward trend line, I will continue to short. So here is a nice little trade setup, we can wait for a confirmation candle, however, this is what my entry is going to look like.
Reasons why I'm shorting
1. Daily Bearish Trendline
2. Strong Resistance Zone
3. RSI going to be overbought soon
4. Disparity in Buying Volume
5. 4 hour trend line broken, waiting for break in bearish momentum
We can just see how this goes as their isnt really any confirmation
HAPPY TRADING