AUDUSD
Multiple Time Frame Analysis
Monthly Time Frame Bias: Downtrend (Bearish)
Weekly Time Frame Bias: Downtrend (Bearish)
Daily Time Frame Bias: Uptrend (Bullish)
4H Time Frame Bias: Uptrend (Bullish)
Trading Plan: My expectation is to go for short trade only after 4H uptrend is broken (break 4H strong local support)
Entry Trigger: Wait for price to do a re-test of the broken 4H strong local support, and I need to see some nice bearish price actions like shooting star with long wicks rejecting broken 4H strong local support, that's when I enter short trade.
I would hold the short position for a while and wait for daily uptrend structure to be broken as well. So, all timeframe lining up as bearish price action, that would be a big WIN for the short trade.
Multiple Time Frame Analysis
Monthly Time Frame Bias: Downtrend (Bearish)
Weekly Time Frame Bias: Downtrend (Bearish)
Daily Time Frame Bias: Uptrend (Bullish)
4H Time Frame Bias: Uptrend (Bullish)
Trading Plan: My expectation is to go for short trade only after 4H uptrend is broken (break 4H strong local support)
Entry Trigger: Wait for price to do a re-test of the broken 4H strong local support, and I need to see some nice bearish price actions like shooting star with long wicks rejecting broken 4H strong local support, that's when I enter short trade.
I would hold the short position for a while and wait for daily uptrend structure to be broken as well. So, all timeframe lining up as bearish price action, that would be a big WIN for the short trade.
Monthly
Weeky
Daily
4H