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⋅ Good morning everyone,
A nice opportunity setting up on AUDUSD.
Price is showing a clear AMD model going into the Daily/Weekly Bearish Orderblock after breaking to the top side of the H4 range.
On the H1 chart, we see a clear break in the bullish market structure indicating a potential reversal short soon.
I've got quite a large SL on this trade idea; however, personally I've got a stop above the highs of Asia (10 pips approx as opposed to 20)
Feel free to do the same; however, there is a chance price can stop hunt above these highs before the reversal.
The targets to the downside are clear and defined.
Let's see what happens.