AUDUSD 1hour Analysis December 1st, 2020
Trade Scenario 1: Price action continues bullish. Possible double bottom forming on the 1h. Wait for price to break above .737 and come back to retest this level to form HL. Enter on bullish momentum/variation.
Trade Scenario 2: Price action goes bearish . We will need to see price break below the 200MA on the 1h timeframe and then look for a LH to form on strong bearish momentum/variations.
Trade Scenario 2: Price action goes bearish . We will need to see price break below the 200MA on the 1h timeframe and then look for a LH to form on strong bearish momentum/variations.