possible sell set up for audusd
price recently just broke the previous low , currently waiting for more confluences to take the short set up , if price break through the bearish orderblock level , sell set up won't be valid .waiting for London open and sign of bearish candlestick pattern for me to execute the trade set up .
looking at dxy overall market structure , price fail to break low as well , which mean im looking at usd strength to be bullish and currency pair that involve usd strength to be bearish . if audusd appear to have a bearish kangaroo tail . will be taking the trade set up with a very tight stop loss at the previous high . target will be at the next major reversal level
for a valid kangaroo tail , price must have a small candlestick body with a long wick that's 1/3 of the overall candlestick pattern
valid orderblock level , require 3 main structure
1) break of previous structure ( high or low) min timeframe at 1H
2)imbalance waiting to be filled
3)must be engulfing pattern to be consider as a orderblock .(bearish or bullish )
waiting for London open that's when all the volume.
looking at dxy overall market structure , price fail to break low as well , which mean im looking at usd strength to be bullish and currency pair that involve usd strength to be bearish . if audusd appear to have a bearish kangaroo tail . will be taking the trade set up with a very tight stop loss at the previous high . target will be at the next major reversal level
for a valid kangaroo tail , price must have a small candlestick body with a long wick that's 1/3 of the overall candlestick pattern
valid orderblock level , require 3 main structure
1) break of previous structure ( high or low) min timeframe at 1H
2)imbalance waiting to be filled
3)must be engulfing pattern to be consider as a orderblock .(bearish or bullish )
waiting for London open that's when all the volume.