AUDUSD - Short on Trend line bounce
AUDUSD Is getting into a wedge formation - Price Hits the trend line and bounces off the Support trend (Green) , Price is expected to hit the wedge resistance line (White) where there will be more supply for the selloff - Shorting could be a good idea - Wait for a confirmation candle before making a moveNote
Alternatively, - Price may challenge the upper red large supply zone and use the wedge as support for the breakoutNote
Note
Hanging man candlestick pattern may indicate Bulls are getting tiredTrade active
T1
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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.