First lower high and lower low, start of something for aud?
Looking to short AUD at around these levels.
Multiple signals that new lows can be made if we clearly break below 0.75 in the coming day(s). Might first see a small consolidation and retest of broken trendline at about 0.7525.
Of course this doesn't really matter the moment price decides to go higher any way (fundamentals?) and take on 0.76 again.
But we'll be out long before that at 0.7560.
Let's seen this last day and a bit of the week and probably next week.
Multiple signals that new lows can be made if we clearly break below 0.75 in the coming day(s). Might first see a small consolidation and retest of broken trendline at about 0.7525.
- Lower high, lower low
- Previous 4H candle clearly broke the trendline
- RSI and stock pointing lower on 4H
- RSI and Stoch bearish divergence on 1D
- Lots of big bearish candles
- Kinda H&S?
Of course this doesn't really matter the moment price decides to go higher any way (fundamentals?) and take on 0.76 again.
But we'll be out long before that at 0.7560.
Let's seen this last day and a bit of the week and probably next week.
Comment:
Very nice short candle stick pattern with spinning top and nice bearish candle to seal the deal. Still short biased.
This is why I waited till I was awake for a possible. I never trade this pair while sleeping cause it's most volatile during my night time.