I am a trend trader, the daily (long-term) chart for the #audusd left a candlestick "shooting star" signal, one of my favorites to trade. I'm also checking the #usdollar (#dxy) to enter at the right time on this trade. I'll be trading the 3H chart, focusing on a resistance at 0.7250 range. #audusd could go as high 0.73 before continuing its downtrend so our first trade is going short at 0.7240 with a stop loss above 0.7350 and we will be taking half of the profits around 0.7200
BTW, check also RSI and notice the divergence, so another possible entry is if it shows as oversold later on in the hourly charts.
BTW, check also RSI and notice the divergence, so another possible entry is if it shows as oversold later on in the hourly charts.
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Market is very slow, signals are full of noise right now. Elections and UK meetings are making the market nervous.