Based on the Daily timeframe chart for AUD/USD, we have broken the weekly bearish trendline (Black-line) and price rejected the minor resistance level giving us a minor bearish retracement.
If price respects and stay on top of the orange trendline, then we will look for signs of rejection with bullish price action.
If price breaks the orange trendline to the down-side, then we will play the shorts till we reach the either the previous Lower high or the Black trendline to see if AUD/USD is going to respect the weekly trendline OR continues to the major support level.
Will be taking advantage of intraday setups with the private mentor group as we look for possible swing positions in mean time
If price respects and stay on top of the orange trendline, then we will look for signs of rejection with bullish price action.
If price breaks the orange trendline to the down-side, then we will play the shorts till we reach the either the previous Lower high or the Black trendline to see if AUD/USD is going to respect the weekly trendline OR continues to the major support level.
Will be taking advantage of intraday setups with the private mentor group as we look for possible swing positions in mean time
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