Evening Traders,
Today’s analysis – AUDUSD – trading towards its daily s/r where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
(.618 Fibonacci Confluence)
- Low Volume
- Swing Low Objective
AUDUSD’s immediate price action is trading towards a key resistance that is in technical confluence with the .618 Fibonacci, allowing for a short bias trade.
The current volume profile is below average, an influx is highly likely when testing a key trade location.
The swing low is the current objective; testing and exceeding this level will increase the probability of a trend continuation.
Overall, in my opinion, AUDUSD is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
Today’s analysis – AUDUSD – trading towards its daily s/r where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
(.618 Fibonacci Confluence)
- Low Volume
- Swing Low Objective
AUDUSD’s immediate price action is trading towards a key resistance that is in technical confluence with the .618 Fibonacci, allowing for a short bias trade.
The current volume profile is below average, an influx is highly likely when testing a key trade location.
The swing low is the current objective; testing and exceeding this level will increase the probability of a trend continuation.
Overall, in my opinion, AUDUSD is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
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— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Stay sharp, trade smart.
— Team The Alchemist ⚔️
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.