AUUSD (PipsPayTheBills):
We have surely done a very good trade on this with a buy from Support A. Now we are back to the same highest high again. The possibility of sell is very high looking at recent price history.
When price drops below the current bearish candle, you can place a sell with TP at support A. The candle formation is very important. I will look for a bearish rejection candle.
Your SL should be few pips above the highest pinbar.
CONDITION FOR BUY:
If there is possibility of bullish run, do not trade the first breakout, wait for a retest of B as support before placing a buy.
We have surely done a very good trade on this with a buy from Support A. Now we are back to the same highest high again. The possibility of sell is very high looking at recent price history.
When price drops below the current bearish candle, you can place a sell with TP at support A. The candle formation is very important. I will look for a bearish rejection candle.
Your SL should be few pips above the highest pinbar.
CONDITION FOR BUY:
If there is possibility of bullish run, do not trade the first breakout, wait for a retest of B as support before placing a buy.