Reasons for
-Firstly on the four hour we are in a area of congestion and sideways
-We are making lower high
-we have bounced of major long term trend line on the four hour with a Bearish candle
-Previous candle was a doji
-Also we created a corrective structure to the upside and we have broken it
-So we are ready for the next impulse move to the downside
-Not only Price action is bearish but also wave patterns are showing bearishness these two together a deadly combo!
-We are also trading on the 0.5 FIB level on the lower timeframes
Daily
-On the daily we are bearish in terms of trend (We are down trending)
-This recent move up could be a correction before we see anymore bearish movement and building up steam for a big move down
-On the daily we rejected the 0.618 FIB level which shows us the retrace or correction may be over and ready for some bearish movement again
-Of course the lower highs are more seeable on the daily (clear down trend)
-Also on the daily we got a tweezer top a sign of reversal :)
On the weekly
-Once again we are down trending
the trend is your friend
-The past two weeks have been DOJIS on the weekly now we are at a strong trend line maybe time to get bearish candle ?
to signify the down move
-On the weekly we are getting lower lows which is great but this is more of a long term view
Overall im bearish across three time frames i do believe we need to go lower if we do want to see any bullish movemnt if it does come but thats for the future at the moment i believe AUDUSD next level will be 0.7000
Then possibly lower but for now 0.7000 is in sight
after we had the Last impulse and corrective structure i think its time for a big bearish move
All we can do is wait and see :)
My entry 0.70904
1-3% Risk Per trade
Trade safe all the best :)
If you liked this analysis and Setup
Follow and give thumbs up Also id love to hear what you guys think of the setup :)
Wishing everyone a great trading Week :)
-Firstly on the four hour we are in a area of congestion and sideways
-We are making lower high
-we have bounced of major long term trend line on the four hour with a Bearish candle
-Previous candle was a doji
-Also we created a corrective structure to the upside and we have broken it
-So we are ready for the next impulse move to the downside
-Not only Price action is bearish but also wave patterns are showing bearishness these two together a deadly combo!
-We are also trading on the 0.5 FIB level on the lower timeframes
Daily
-On the daily we are bearish in terms of trend (We are down trending)
-This recent move up could be a correction before we see anymore bearish movement and building up steam for a big move down
-On the daily we rejected the 0.618 FIB level which shows us the retrace or correction may be over and ready for some bearish movement again
-Of course the lower highs are more seeable on the daily (clear down trend)
-Also on the daily we got a tweezer top a sign of reversal :)
On the weekly
-Once again we are down trending
the trend is your friend
-The past two weeks have been DOJIS on the weekly now we are at a strong trend line maybe time to get bearish candle ?
to signify the down move
-On the weekly we are getting lower lows which is great but this is more of a long term view
Overall im bearish across three time frames i do believe we need to go lower if we do want to see any bullish movemnt if it does come but thats for the future at the moment i believe AUDUSD next level will be 0.7000
Then possibly lower but for now 0.7000 is in sight
after we had the Last impulse and corrective structure i think its time for a big bearish move
All we can do is wait and see :)
My entry 0.70904
1-3% Risk Per trade
Trade safe all the best :)
If you liked this analysis and Setup
Follow and give thumbs up Also id love to hear what you guys think of the setup :)
Wishing everyone a great trading Week :)
交易结束：到达止损:
Trade absolutely ruined by news just one of those things
small loss of
52 Pips
still up over 120 pips for the week :)
small loss of
52 Pips
still up over 120 pips for the week :)
