Let me know what you guys think of this trade set up!
I had some similar attempt in WTI crude few days ago. It was a sht idea, and frankly spkn something like 2 hours after I opened the shorts i manually closed them, as I realised that it was not a trade matching my setup criterias, but only stg like a pure gutfeeling to go short on the 4 hrs chart as it seemed overbought.... So it is even more overbought now, trading more than 2,5 figure higher, closer to 101 usd :-).
So put it this way. Ask only two questions from yourself: 1. what is my precise trade setup for taking a short position (u might know it from your trading strategy). 2. Is the short setup really there on this chart and is it valid?
If u can answer these two questions within 8-10 seconds, and the answer for the second question is totally positive, then go short. If you feel like you have to look at this chart more, or you answer like "well, uhmmm, yes... Mmmm, aaamm, maybe, etc.", then just forget it and look for something more clean and obvious.
Ah, and one last thing. Never feel sorry for any missed trades, which you had no confidence with! Feel sorry for those that you did not enter, despite you had the clear, valid and confident setup.
Sry for being this long, but hope you found it useful.
P.s.: Maybe tomorrow I check my charts and will post an Ichimoku based daily and 4 hrs analyses on AUDUSD.