AUDUSD SHORT 8/12/18
1D Chart:
* On this daily chart AUDUSD had made a strong breach below structure that had been holding around the .73400-.73600 handle
*the momentum shown by this pair was strong by the sellers on the break below structure
4H Chart:
*On the 4H chart the pullback into structure had been weaker by the buyers than the strength of the breach done by the seller to the downside
1H Chart:
* On this time frame chart it had shown that when price had pulled into that significant structure point the seller had started to create a lower high sequence on the 1H timeframe chart; which had showed their interest in this pair.
*On the 1H there had been a strong bearish candle giving a good opportunity for a sell
* The trade was performing very well once it hit the .72400 level after over 100+ pips of downfall there had been a strong reaction by the buyers come into play. This could have been due to many factors. In my opinion was caused by USD weakness.
Keep an eye out on this pair. My trade on this is still active with my stop loss for 50% of position in profit and other 50% with stop loss at .73840. Lets keep watching to see just how strong the seller/buyers are!
Cheers!
1D Chart:
* On this daily chart AUDUSD had made a strong breach below structure that had been holding around the .73400-.73600 handle
*the momentum shown by this pair was strong by the sellers on the break below structure
4H Chart:
*On the 4H chart the pullback into structure had been weaker by the buyers than the strength of the breach done by the seller to the downside
1H Chart:
* On this time frame chart it had shown that when price had pulled into that significant structure point the seller had started to create a lower high sequence on the 1H timeframe chart; which had showed their interest in this pair.
*On the 1H there had been a strong bearish candle giving a good opportunity for a sell
* The trade was performing very well once it hit the .72400 level after over 100+ pips of downfall there had been a strong reaction by the buyers come into play. This could have been due to many factors. In my opinion was caused by USD weakness.
Keep an eye out on this pair. My trade on this is still active with my stop loss for 50% of position in profit and other 50% with stop loss at .73840. Lets keep watching to see just how strong the seller/buyers are!
Cheers!