AUDUSD : Something had changed
I've been focusing on the short position, but I'm also aware that it's in a big correction wave. That means It's already ending the correction wave soon and continuing to build an impulse wave. I have no idea whether it will be Up or Down. But the previous impulse wave was a downtrend, so in my previous analysis, I focused on selling. Maybe this will be the last sell position that I will take on AUDUSD in this trend and wait to see action on economic data and the chart pattern.
Get to the analysis trade: I've found that there is a Bat pattern in the supply zone (0.68731), and I will take 50% of the pattern and Take the profit point. But the second entry can be a pullback on the trend channel, which means on Monday I might take in the second entry.
Manage position: I will hold a selling position on the Bat pattern and see the action from the market, and I might enter as a pullback strategy with a small amount till it changes a trend to an up trend (predict 50% of the bat pattern).
Get to the analysis trade: I've found that there is a Bat pattern in the supply zone (0.68731), and I will take 50% of the pattern and Take the profit point. But the second entry can be a pullback on the trend channel, which means on Monday I might take in the second entry.
Manage position: I will hold a selling position on the Bat pattern and see the action from the market, and I might enter as a pullback strategy with a small amount till it changes a trend to an up trend (predict 50% of the bat pattern).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.