Trend line resistance based on daily chart have been respected so far, price seems to be holding now. There is potential to short at the top of this ED channel, a bearish shark pattern has also been sighted. RSI is now at overbought level.
Why one might not short : - Bullish engulfing candle - EMAs crossing, diverging - Events happening tomorrow morning in AU. 1. AU Employment Change results 2. AU Unemployment Rate
However, potential 1:4 Risk:Reward if you choose to short on the next candle: SL 35 pips TP1 95 pips TP2 170 pips
I might go with a short if RSI shows a bearish divergence.
Operación activa
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I shorted at 0.771. For those who shorted, you will be enjoying about 80 pips of profit now. AU and US news are in my favour. I will lock all profits very soon, probably at TP1, not too keen on holding my position over the weekend.
Operación cerrada manualmente
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Closed with 72 pips profit. AUDUSD has gone above the 50-day EMA after touching the 100-day EMA, AUD seem to be picking up strength, no bearish signals for me to hold my position.