AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Higher timeframes are bullish here on AU while the 4hour timeframe has been in a steady downtrend.
We can see price action near our 0.74000 support formed a descending triangle, which looks to be breaking bearishly now.
Look for a lower high below 0.74000 with strong bearish setups to enter on.
Trade scenario 2: For us to consider AU bullish again we need to see a break back above 0.74000 first.
The key to entering long here is structure. Look for a 4hour higher low above our most recent lower high.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Higher timeframes are bullish here on AU while the 4hour timeframe has been in a steady downtrend.
We can see price action near our 0.74000 support formed a descending triangle, which looks to be breaking bearishly now.
Look for a lower high below 0.74000 with strong bearish setups to enter on.
Trade scenario 2: For us to consider AU bullish again we need to see a break back above 0.74000 first.
The key to entering long here is structure. Look for a 4hour higher low above our most recent lower high.