AUDUSD just made a huge bullish push, breaking a key level on the 4hr.
Confluences for entry:
-Bearish candle pattern on the 1 hr showing sellers starting to enter the market
-4 hr candle that is about to close looking indecisive
-Bullish push has yet to do a pullback on the 1hr or 4hr
-15 min uptrend structure has been broken
How I will enter:
-Im looking to enter on the next lower high on the 15 min for a retest of the 15 min support that was made
-Im going to enter on a close of a bearish pattern such as an evening star, bearish engulf, inverted hammer, or shooting star
-Sl above that lower high and TP at the 4 hr level that was broken but I will put my trade to break even once i am in profit enough for a 1-1RR and take half profits when I am 1-3RR in profit
Long term AU is a buy tho so my max loss will be very minimal as I am trading against the trend!
Confluences for entry:
-Bearish candle pattern on the 1 hr showing sellers starting to enter the market
-4 hr candle that is about to close looking indecisive
-Bullish push has yet to do a pullback on the 1hr or 4hr
-15 min uptrend structure has been broken
How I will enter:
-Im looking to enter on the next lower high on the 15 min for a retest of the 15 min support that was made
-Im going to enter on a close of a bearish pattern such as an evening star, bearish engulf, inverted hammer, or shooting star
-Sl above that lower high and TP at the 4 hr level that was broken but I will put my trade to break even once i am in profit enough for a 1-1RR and take half profits when I am 1-3RR in profit
Long term AU is a buy tho so my max loss will be very minimal as I am trading against the trend!