Trend: Long term bearish, Short term bullish
Structure: Support and resistance along with an upper trend line.
Plan: We have seen a huge move to the upside in AUD pairs, hence why this retracement trade is risky and before entry we must wait for MACD and MFI confirmation.
However we expect price to bounce off of the upper resistance level and retrace to previous lows or the 0.5Fib level.
Structure: Support and resistance along with an upper trend line.
Plan: We have seen a huge move to the upside in AUD pairs, hence why this retracement trade is risky and before entry we must wait for MACD and MFI confirmation.
However we expect price to bounce off of the upper resistance level and retrace to previous lows or the 0.5Fib level.