Bearish Momentum in AUDUSD at H2 Time Frame
Hello there,
AUDUSD is bearish at the H2 time frame, and the current candle at (C) is weak but not definite at this time due to the strength of the 4-hourly candle-close right now. So the current candle is bullish, but not the ideal bullish momentum we want.
Therefore, we want to see a bearish break in the (C).
Overall, the idea is that if the price goes above the trend line zone, then the setup will be invalid; however, we have more reason to be bearish below (C).
So we wait for the candle to close, and we want a bearish close below (C), find confirmation, and short it towards 0.64014, with caution to the 0.64506 area.
There is also an open zone that can attract a price of 0.63500 for a directional bias.
^ Remember, the sole objective is to minimize guesswork. You don't want to fuss all over the place. The charts work on scale and units, and that's TA analysis, not PA analysis.
Okay,
K :)
AUDUSD is bearish at the H2 time frame, and the current candle at (C) is weak but not definite at this time due to the strength of the 4-hourly candle-close right now. So the current candle is bullish, but not the ideal bullish momentum we want.
Therefore, we want to see a bearish break in the (C).
Overall, the idea is that if the price goes above the trend line zone, then the setup will be invalid; however, we have more reason to be bearish below (C).
So we wait for the candle to close, and we want a bearish close below (C), find confirmation, and short it towards 0.64014, with caution to the 0.64506 area.
There is also an open zone that can attract a price of 0.63500 for a directional bias.
^ Remember, the sole objective is to minimize guesswork. You don't want to fuss all over the place. The charts work on scale and units, and that's TA analysis, not PA analysis.
Okay,
K :)
Comment:
watching
Trade closed: stop reached