Hi Traders,
AUDUSD is setting up for the next bearish run as we can see on the HTF, price is continuously making lower highs and lower lows moving within a larger descending channel. Price failed to push higher at 0.705 range, instead created a double top and a strong reversal impulse. On the LTF, price is moving correctively towards the upper boundary of the larger correction.
I will be waiting for a bearish confirmation for a sell opportunity, if price breaks out of the channel I will be looking for a sell opportunity around the 0.725 range.
Thanks
Trade Safe
AUDUSD is setting up for the next bearish run as we can see on the HTF, price is continuously making lower highs and lower lows moving within a larger descending channel. Price failed to push higher at 0.705 range, instead created a double top and a strong reversal impulse. On the LTF, price is moving correctively towards the upper boundary of the larger correction.
I will be waiting for a bearish confirmation for a sell opportunity, if price breaks out of the channel I will be looking for a sell opportunity around the 0.725 range.
Thanks
Trade Safe
