AUDUSD - 4hr Timeframe -Potential progressions and short Opp.ies
Following our monthly and weekly analysis (www.tradingview.com/...n-Monthly-Timeframe/) we are trying to get a good short entry level, on this pair.
At the moment AUDUSD seems to still be in a sideways move, the potential progression of which we have indicated in the chart.
More in detail, what we're seeing at this moment, is that either the 4hr correction is already finished, and the pair is just in a very dull and non tradeable moment to the downside (abc in yellow = regular flat). This scenario would be confirmed on the break of the small trend (in yellow).
The other possible scenario is that the pair still needs to complete the "c" leg of the "abc" correction breaking the previous top (bright blue), and making a different "c" point (in pink) = running flat.
In theory, the pair could also go and break the previous high at "a" (pink), in which case we would be talking about an expanding flat. We doubt however, that this is the case.
In terms of potential entry strategies, at the moment there are none. We will therefore just wait to see how the pair proceeds: if the running flat scenario is fulfilled, we will consider short entries on the verge of "c" (pink).
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
At the moment AUDUSD seems to still be in a sideways move, the potential progression of which we have indicated in the chart.
More in detail, what we're seeing at this moment, is that either the 4hr correction is already finished, and the pair is just in a very dull and non tradeable moment to the downside (abc in yellow = regular flat). This scenario would be confirmed on the break of the small trend (in yellow).
The other possible scenario is that the pair still needs to complete the "c" leg of the "abc" correction breaking the previous top (bright blue), and making a different "c" point (in pink) = running flat.
In theory, the pair could also go and break the previous high at "a" (pink), in which case we would be talking about an expanding flat. We doubt however, that this is the case.
In terms of potential entry strategies, at the moment there are none. We will therefore just wait to see how the pair proceeds: if the running flat scenario is fulfilled, we will consider short entries on the verge of "c" (pink).
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.