AUDUSD formed a good descending channel, price reaches major resistance area and price is currently respecting it, we are in corrective move and overall direction is bearish. Dollar index is in corrective move and overall direction is bullish and price is currently on major support zone, AUD basket formed a bearish frag pattern on 24 hour time-frame. that gives me a sign that we have to sell this pair but not for long-term. what's on your mind?
You probably need to raise your stop loss higher because you may never know if price could potentially spike up and you’ll end losing ! Just a fyi
PurslaneFX
⋅
@Jesusisking12, that's true, price ended up breaking the downward trendline, but there's still a chance that it might go down. i'm keeping my eyes on dollar index as well and upcoming news report from USA
PurslaneFX
⋅
@Jesusisking12, 40 pips collected. maybe it'll keep going down for more....