The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. AUDUSD S (not in position)
D - On bigger time frame (Weekly) Price hit a of a range and tanked hard after, falling back into the range and broken below 50 with strong momentum. Looking to hold this one longer to the downside for a near +4% net.
4HR - has been broke after a correction at the bottom of structure. Nice bear momentum.
1 HR - At this point, price will continue to hover in this area creating a nicer/cleaner confirmation pattern for a possible entry to the downside.
15Min - similar to 1HR. Price reacting smoothly to end the week.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 71 pips.
Target: @ .6700 level.
Entered this trade a little to ambitiously! Although I was not in this position it still sucks being wrong but gota analyze, learn, move on and execute better. I'm not mad about it but in hindsight, it would have been good to wait for a clear pattern/correction instead of entering on the run, especially with an end of the week analysis.