RCP
Short

AUDUSD: Structure is a King

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hello Traders!
I see a very nice selling opportunity on #AUDUSD. As we see on the chart we have a very strong key structure level @0.7161 which was broken recently and price has formed a flag pattern . Now what I am waiting for is the retest of this key level to sell, or breakout of the flag to sell.
Besides dont miss the rounding top formation which is one more confluence of bear market.
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Avto_T
Financial Analyst
http://www.rcpforex.com

Related Ideas


Using stochastic indicator to simulate the dotted arc in red, the reading is now in OS. Should we open a long position at your target 0.70724?
Reply
RCP ghlam86168
0.7070 will be a good long entry if we look left and focus on structure levels at this rate. It depends on the market behavior, we should monitor the price movement at this level, but technically it will be a good long entry upt to 0.7060
Reply
Thanks for sharing! Good luck!
+1 Reply
RCP ghlam86168
You too mate!
Reply
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