AUD/USD Possible Downtrend Continuation in Bigger Time Frame

AUDUSD

Multiple Time Frame Analysis

Monthly Time Frame Bias: Downtrend (Bearish)

Weekly Time Frame Bias: Downtrend (Bearish)

Daily Time Frame Bias: Uptrend (Bullish)

4H Time Frame Bias: Uptrend (Bullish)

Trading Plan: My expectation is to go for short trade only after 4H uptrend is broken (break 4H strong local support)

Entry Trigger: Wait for price to do a re-test of the broken 4H strong local support, and I need to see some nice bearish price actions like shooting star with long wicks rejecting broken 4H strong local support, that's when I enter short trade.

I would hold the short position for a while and wait for daily uptrend structure to be broken as well. So, all timeframe lining up as bearish price action, that would be a big WIN for the short trade.

Kommentera:

New to this and don't know how to add 4 charts from monthly, weekly, daily and 4H time frames, so here are the links to the charts that have my analysis on.

Monthly

Weeky

Daily

4H