Not my favorite opportunity of the week but one that could be sneaky good because of the associated risk to reward ratio. The AUDUSD has been bouncing back and fourth in a period of consolidation for a while now with the most recent move being a retracement into a high volume level.
We end last week with a very positive candlestick combination for the bears offering a potential short opportunity on the open.
If you have any questions or comments about the idea, or if you just want to share your own views, please leave it in the comment section below.