FX:AUDUSD   Australian Dollar / U.S. Dollar
Reasons for

-Firstly on the four hour we are in a area of congestion and sideways
-We are making lower high
-we have bounced of major long term trend line on the four hour with a Bearish candle
-Previous candle was a doji
-Also we created a corrective structure to the upside and we have broken it
-So we are ready for the next impulse move to the downside
-Not only Price action is bearish but also wave patterns are showing bearishness these two together a deadly combo!
-We are also trading on the 0.5 FIB level on the lower timeframes

-On the daily we are bearish in terms of trend (We are down trending)
-This recent move up could be a correction before we see anymore bearish movement and building up steam for a big move down
-On the daily we rejected the 0.618 FIB level which shows us the retrace or correction may be over and ready for some bearish movement again
-Of course the lower highs are more seeable on the daily (clear down trend)
-Also on the daily we got a tweezer top a sign of reversal :)

On the weekly
-Once again we are down trending
the trend is your friend
-The past two weeks have been DOJIS on the weekly now we are at a strong trend line maybe time to get bearish candle ?
to signify the down move
-On the weekly we are getting lower lows which is great but this is more of a long term view

Overall im bearish across three time frames i do believe we need to go lower if we do want to see any bullish movemnt if it does come but thats for the future at the moment i believe AUDUSD             next level will be 0.7000
Then possibly lower but for now 0.7000 is in sight
after we had the Last impulse and corrective structure i think its time for a big bearish move
All we can do is wait and see :)

My entry 0.70904
1-3% Risk Per trade

Trade safe all the best :)

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Follow and give thumbs up Also id love to hear what you guys think of the setup :)
Wishing everyone a great trading Week :)
Trade closed: stop reached: Trade absolutely ruined by news just one of those things
small loss of
52 Pips
still up over 120 pips for the week :)
was the oil news, had the same setup and last week too had the same problem, thats why will stop trading all the commodities currency CAD AUD NZD
Best on tradingview as always :) & A great mentor
Great setup words can't describe your great work rate and fantastic analysis one of the best in the game
Im in , thank u very much.
Nice One :)
Should be another good trade! Setup looks very solid
Following tight
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