Hello everyone 👋
Today my idea is for AUDUSD
My method is based on Market nature and patterns with a top-down approach.
HTF : On the higher timeframe we see that this market has been trending bearish for a while now with bearish impulse phases and continuation corrections pushing the market further down .
LTF : The lower time frame also gives us bearish signals as we had an ascending reversal structure which had been pushing towards the "point of interest " zone (POI) also forming a double top .We got our first confirmation in a series of bearish impulses and continuation corrects. The market also is currently in a continuation correct which if plays out will give us a "mini" head an shoulders pattern .
Trade Idea :
●should the market break put of its latest correction I will be looking for a ETF (Entry time-frame (15M)) continuation pattern to take a trade and to maximize my RvR .
●should the market not breakout I will not take a trade as the market could develop a larger LTF correction .
Thank you .
Today my idea is for AUDUSD
My method is based on Market nature and patterns with a top-down approach.
HTF : On the higher timeframe we see that this market has been trending bearish for a while now with bearish impulse phases and continuation corrections pushing the market further down .
LTF : The lower time frame also gives us bearish signals as we had an ascending reversal structure which had been pushing towards the "point of interest " zone (POI) also forming a double top .We got our first confirmation in a series of bearish impulses and continuation corrects. The market also is currently in a continuation correct which if plays out will give us a "mini" head an shoulders pattern .
Trade Idea :
●should the market break put of its latest correction I will be looking for a ETF (Entry time-frame (15M)) continuation pattern to take a trade and to maximize my RvR .
●should the market not breakout I will not take a trade as the market could develop a larger LTF correction .
Thank you .