AUD/USD - Bearish Trend Continuation
Updated
Hello Traders!,
We've reached the end of the trading week, we will be looking for set-ups that'll take us into the next week.
What Is The Market Telling Us?
When Should We Enter?
We've reached the end of the trading week, we will be looking for set-ups that'll take us into the next week.
What Is The Market Telling Us?
- AUD weakness has occured after 2 attempts at our supply zone, 0.69 resistance has been broken & retested
- 4H timeframe shows we are currently in our 3rd wave of bearish impulse, indicating more selling pressure ahead
- 0.69 is our invalidation level, so if price violates this level, we are no longer bearish on AUD/USD
When Should We Enter?
- I have two possible outcomes to look for SELLS, we can look for a bearish pattern on our minor resistance then SELL
- 2nd scenario is more conservative, so we wait for price to revert back up to our 0.6900 resistance, look for bearish signals then SELL.
Trade closed: target reached
70 PIP target reached, then market reversed on our support
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