AUDUSD: Fake Move Monday? ๐จ
Let's start our analysis with AUDUSD:
By studying my chart, you will notice that price has not yet reached an area of strong supply or demand, it is simply trading around an imaginary trendline.
Sentiment shows us that 66% of traders are long and the day has started bullish. Could this be an early invitation for buyers to start the week? When traders open their screens and see this bullish momentum, they may feel FOMO that they will miss the longs.
For this reason, I am set mostly on bearish momentum and will be locating the ideal area to sell from later in the day.
By studying my chart, you will notice that price has not yet reached an area of strong supply or demand, it is simply trading around an imaginary trendline.
Sentiment shows us that 66% of traders are long and the day has started bullish. Could this be an early invitation for buyers to start the week? When traders open their screens and see this bullish momentum, they may feel FOMO that they will miss the longs.
For this reason, I am set mostly on bearish momentum and will be locating the ideal area to sell from later in the day.
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