Daily Trend : Bearish
4H Trend : Bearish
Trade Scenario 1 :
We could see AU is coming close to the last low which also act as a support level. IF it couldn't break the low, rejecting support area and start forming bullish structure in lower timeframe, we could potentially see a double bottom pattern formed and then we could go long.
Trade scenario 2 :
To put short position we could be more conservative by wait for break the support area/the last LL and wait a LH to entry short position.
4H Trend : Bearish
Trade Scenario 1 :
We could see AU is coming close to the last low which also act as a support level. IF it couldn't break the low, rejecting support area and start forming bullish structure in lower timeframe, we could potentially see a double bottom pattern formed and then we could go long.
Trade scenario 2 :
To put short position we could be more conservative by wait for break the support area/the last LL and wait a LH to entry short position.
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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.
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.