AUDUSD - Potential SHORT to take advantage of AUD weakness
Higher timeframe trend = down
Retail traders = long
Therefore bias = down
NOTE : Not in yet - Entry order set below the structure that is forming currently. We are at a resistance turned support zone (marked with white rectangle) and have seen a reaction which may entice buyers to get involved - at which point we can get involved if their stops get taken out.
Target is close to the low that was recently created (marked with white dotted horizontal ray).
Stops where my personal backtesting has suggested they be placed to invalidate the trade. If price gets to stops before triggering in, entry order is cancelled.
Please keep in mind that there is another layer of analysis that goes into this that is part of my personal plan.
Retail traders = long
Therefore bias = down
NOTE : Not in yet - Entry order set below the structure that is forming currently. We are at a resistance turned support zone (marked with white rectangle) and have seen a reaction which may entice buyers to get involved - at which point we can get involved if their stops get taken out.
Target is close to the low that was recently created (marked with white dotted horizontal ray).
Stops where my personal backtesting has suggested they be placed to invalidate the trade. If price gets to stops before triggering in, entry order is cancelled.
Please keep in mind that there is another layer of analysis that goes into this that is part of my personal plan.
Order cancelled
invalidated
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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.