So the audusd has been breakin supports and going lower in a nice trend, its now retesting the prior support as resistance,and through the backtesting audusd usually when breaking the support and retesting it makes a 3-5 RR move, which is pretty good for a trade, consider also that the DXY (the dollar index is in a uptrend and gold is in a downtrend) there are...
Eurjpy making a double top gonna wait for this candle to close and a bearish engulfing candle for a entry taking a 1.4 RR
putting a stop 15 pips above the whick
I entered a small audusd trade short, big double top with engulfing candle, there is a double top at 1 hour with engulfing that gave a much better entry but i didnt see it, if it pulls back enter it yourself, but i doubt it i will ride it down to 1.4 rr
Audjpy is at previous resistance now acting as a support,it made a double bottom on 1 hour and waiting for a engulfing 4 hour candle and will be looking for a entry for a long
So audchf like eurusd was in a range for a LOOOOOONG time, and it is coiling, i will be watching for a break in one direction, it already tested the upper resistance for buyers but didnt manage to find them,no it will probably be looking for sellers, keep in mind this is a daily chart so this trade WILL take time to setup perfectly and will take time to complete....
Although jpy is getting stronger in the other pairs region, there is a hanging man candlestick pattern at previous structure with a engulfing engulfing candle, im taking 1-1 targets but there is a possibility that you can ride it up to next structure but i doubt it will go that long with gold declining
So eurusd came to big previous structure, and with the usd in trend and a long ass double top whick this is a great oportunity to short till previous support or you can hold it even longer down
