AUD/USD, Sell if price continues to fall.
Weekly: price is working within a range, previously formed a double bottom and reacted towards the upside, breaking the neck line and stalling at the previous high.
last two candles have been bearish pinbar and doji, indicating potential reversal back towards the previous demand/support level.
Daily: price is bullish, making HH's and HL's, however, price has reacted off a previous resistance level and fallen back to the downside.
if buy are to be taken, price would need to move back up past the daily Swing High, retest the cause a CHoCH for entry.
4H: price has broken daily CHoCH and 4H BoS, dropped down with multiple wick rejections.
price currently showing low momentum.
1H: if price move back for a retest then sell stop potential.
1H: If trade one is missed and price falls further past 4H CHoCH then retests, sell limit for the retest then a further fall down.
last two candles have been bearish pinbar and doji, indicating potential reversal back towards the previous demand/support level.
Daily: price is bullish, making HH's and HL's, however, price has reacted off a previous resistance level and fallen back to the downside.
if buy are to be taken, price would need to move back up past the daily Swing High, retest the cause a CHoCH for entry.
4H: price has broken daily CHoCH and 4H BoS, dropped down with multiple wick rejections.
price currently showing low momentum.
1H: if price move back for a retest then sell stop potential.
1H: If trade one is missed and price falls further past 4H CHoCH then retests, sell limit for the retest then a further fall down.