FX:AUDUSD Australian Dollar/U.S. Dollar
A consolidation pattern , pennet has formed. The bet is for a continuation to go up or a reversal to go down. It looks like a top of the H4 upwave. Hence a bet of reversal could be the scenario to play out. A counter trend short idea is developed with a potential less than 45pips.
Comment: Need to trade with smaller size than usual becos it is a counter trend trade.
Trade active: short at 0.7544. SL 0.7575 Risk 31 pips
Trade closed: target reached: Loss 31pips. It looks like breaking towards the up side.