AUDUSD Range High| Bearish Retest| Price Action| Stoch Cross
Evening Traders,
Second update – AUDUSD- Price Action is approaching range high where resistance is probable to establish a bearish retest.
Points to consider,
- Impulse Price Action
- Range Low Support
- Range High Resistance (Bearish Retest Zone)
- Oscillators below 50
- Volume below average
AUDUSD’s immediate Price Action is impulsive, approaching key range high resistance where a bearish retest is probable. This allows us to have a bearish bias once a rejection occurs.
The range mid is the immediate target, price action holding this level will be bullish in the immediate term.
Both oscillators are below 50, breaking above will signal immediate strength in price action as it approaches resistance.
The volume profile is currently below average, an influx will be probable when testing key trade locations.
Overall, in my opinion, AUDUSD is a valid short with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Second update – AUDUSD- Price Action is approaching range high where resistance is probable to establish a bearish retest.
Points to consider,
- Impulse Price Action
- Range Low Support
- Range High Resistance (Bearish Retest Zone)
- Oscillators below 50
- Volume below average
AUDUSD’s immediate Price Action is impulsive, approaching key range high resistance where a bearish retest is probable. This allows us to have a bearish bias once a rejection occurs.
The range mid is the immediate target, price action holding this level will be bullish in the immediate term.
Both oscillators are below 50, breaking above will signal immediate strength in price action as it approaches resistance.
The volume profile is currently below average, an influx will be probable when testing key trade locations.
Overall, in my opinion, AUDUSD is a valid short with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone