AUDUSD: The Trend Continuation
The AUD has again shown another bearish price pattern, a Bear Flag.
So?
Since I already have a Short position running, now I personally will look for a Pullback to the FL0.7400 areas to scale-in another entry.
IMO, currently, the correlation of USD shouldn’t have much a concern in this major. The fundamentals of AUD should be the one that counts. I’ve been very Bearish Bias about the AUD since the day China shuts his doors.
My additional Trade Plan:
1. Scale-in with bearish signal at a Pullback to FL0.7400 area,
2. I wouldn’t hesitate to double-up another scale-in when it comes to a confirmed breakdown of FL0.7300 aiming a TP at FL0.7100 areas.
3. Possible or quite likely price will consolidate around FL0.7100. If it ever again shows its bearishness at this area, then my final target would be the 0.7000.
Disclaimer: I’m very bearish bias about AUD, and “Trade at your Own Risk”!
So?
Since I already have a Short position running, now I personally will look for a Pullback to the FL0.7400 areas to scale-in another entry.
IMO, currently, the correlation of USD shouldn’t have much a concern in this major. The fundamentals of AUD should be the one that counts. I’ve been very Bearish Bias about the AUD since the day China shuts his doors.
My additional Trade Plan:
1. Scale-in with bearish signal at a Pullback to FL0.7400 area,
2. I wouldn’t hesitate to double-up another scale-in when it comes to a confirmed breakdown of FL0.7300 aiming a TP at FL0.7100 areas.
3. Possible or quite likely price will consolidate around FL0.7100. If it ever again shows its bearishness at this area, then my final target would be the 0.7000.
Disclaimer: I’m very bearish bias about AUD, and “Trade at your Own Risk”!
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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.
Related publications
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.