AUDUSD Analysis December 2nd, 2020
Trade Scenario 1: Bullish - Price is still above the 200MA on the 1h timeframe. For us to go long we need price to find support above .737 handle. Wait for price to break above this level before looking long.
Trade Scenario 2: Bearish - Price is starting to print a LH on the 1h timeframe. We still need price to break below the 200MA on the 1h timeframe, and break structure forming a LL below the .733 handle before looking short. We will then wait for corrective structures to form a clear LH.
Trade Scenario 2: Bearish - Price is starting to print a LH on the 1h timeframe. We still need price to break below the 200MA on the 1h timeframe, and break structure forming a LL below the .733 handle before looking short. We will then wait for corrective structures to form a clear LH.