Hello Profitable Traders!!!
Welcome to another AUDUSD analysis. On the weekly chart, we have a pin bar that closed last week and price is at a significant resistance. I would not go long now.
I have noticed some strong selling candles that can only be associated with many sellers taking their positions. We can start to think about going short. Many opportunities will present themselves for reentry so let us be patient.
What do you think?
Thank you for checking my idea out.
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Welcome to another AUDUSD analysis. On the weekly chart, we have a pin bar that closed last week and price is at a significant resistance. I would not go long now.
I have noticed some strong selling candles that can only be associated with many sellers taking their positions. We can start to think about going short. Many opportunities will present themselves for reentry so let us be patient.
What do you think?
Thank you for checking my idea out.
Do not forget to Like, Comment and Follow for more ideas.
Comment:
Our set up is now forming well. I will now enter a sell. low risk because we are still above the 200EMA