I've been focusing on the short position, but I'm also aware that it's in a big correction wave. That means It's already ending the correction wave soon and continuing to build an impulse wave. I have no idea whether it will be Up or Down. But the previous impulse wave was a downtrend, so in my previous analysis, I focused on selling. Maybe this will be the last sell position that I will take on AUDUSD in this trend and wait to see action on economic data and the chart pattern.
Get to the analysis trade: I've found that there is a Bat pattern in the supply zone (0.68731), and I will take 50% of the pattern and Take the profit point. But the second entry can be a pullback on the trend channel, which means on Monday I might take in the second entry.
Manage position: I will hold a selling position on the Bat pattern and see the action from the market, and I might enter as a pullback strategy with a small amount till it changes a trend to an up trend (predict 50% of the bat pattern).
Get to the analysis trade: I've found that there is a Bat pattern in the supply zone (0.68731), and I will take 50% of the pattern and Take the profit point. But the second entry can be a pullback on the trend channel, which means on Monday I might take in the second entry.
Manage position: I will hold a selling position on the Bat pattern and see the action from the market, and I might enter as a pullback strategy with a small amount till it changes a trend to an up trend (predict 50% of the bat pattern).