AUDUSD 4hour Analysis December 20th, 2020
AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: This pair has been very bullish and is a bit over extended on the daily timeframe. We are going to look for long opportunities and ride the bullish trend but we want to wait for a more conservative entry. Ideally we would like to see price action pull back to form structure with strong bullish signals to enter long on. If price action does not pull back, look for a large push above 0.76000 with a higher low confirming structure above resistance before entering long.
Trade scenario 2: For us to consider any short opportunities we need to see a break and retest of 0.74000 with a confirmed lower high.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: This pair has been very bullish and is a bit over extended on the daily timeframe. We are going to look for long opportunities and ride the bullish trend but we want to wait for a more conservative entry. Ideally we would like to see price action pull back to form structure with strong bullish signals to enter long on. If price action does not pull back, look for a large push above 0.76000 with a higher low confirming structure above resistance before entering long.
Trade scenario 2: For us to consider any short opportunities we need to see a break and retest of 0.74000 with a confirmed lower high.