Since the May 3rd fake out breakout on the DXY as shown below:
... AUDUSD has been very , consistently making lower lows and lower highs. What we discussed in our Friday live stream is that every time price finds a bottom and gives us a bit of a retrace we can view this as nothing more than a short term corrective pullback that will ultimately provide us with a shorting opportunity as price inevitably continues back in the overall direction of the trend. We have been following this pair throughout this trend and have already capitalized off of it in a previous trade set up shown below:
....We found another opportunity to take a short position on AUDUSD at around .71800. upon the break of the most recent short term blue up and are looking to the below areas for potential profit taking levels.
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