Multi Timeframe Analysis
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
AUDUSD is testing strong Weekly and Daily resistance. Look left on the daily chart and you will a similar pattern being repeated.
Confirm on on the 4H chart for poential sell setup whereby the price drops below the 10/20 EMA and MACD goes below zero. TP should be at the market structure lows on the dailies.
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
AUDUSD is testing strong Weekly and Daily resistance. Look left on the daily chart and you will a similar pattern being repeated.
Confirm on on the 4H chart for poential sell setup whereby the price drops below the 10/20 EMA and MACD goes below zero. TP should be at the market structure lows on the dailies.