Hey there, the audusd has now broken the strong support area after the change of character has taken place. Now this pair is very sure to continue going down to those take profits areas I marked by the blues arrow line.
My advice: SHOULD YOU SHORT IT NOW? I THINK THE ANSWER IS "NO". BUT IF YOU CAN AFFORD TO TAKE THE RISK, THEN SELL IT NOW. Why? 1, the fact is that if you enter this market for a sell now, it means you are just chasing the market, which is not advisable and good enough as a trader. 2, the risk-reward distance is too much. Patience is the key. You are advised to wait for the pullback to the support area for a retest to join this market. What if it doesn't go back, you asked. Then, you have to let it go for another cool opportunity to come with a good risk reward because if you sell this market now, you are going to risk up to 80-100 pips. This is not worth it. Wait, buddy.
Finally, this is a strong sell market; don't buy it unless you are a professional scalper.
My advice: SHOULD YOU SHORT IT NOW? I THINK THE ANSWER IS "NO". BUT IF YOU CAN AFFORD TO TAKE THE RISK, THEN SELL IT NOW. Why? 1, the fact is that if you enter this market for a sell now, it means you are just chasing the market, which is not advisable and good enough as a trader. 2, the risk-reward distance is too much. Patience is the key. You are advised to wait for the pullback to the support area for a retest to join this market. What if it doesn't go back, you asked. Then, you have to let it go for another cool opportunity to come with a good risk reward because if you sell this market now, you are going to risk up to 80-100 pips. This is not worth it. Wait, buddy.
Finally, this is a strong sell market; don't buy it unless you are a professional scalper.