AUD/USD Sell Setup

AUD/USD has been on a bearish trend since it made it's new low in January 01, 2016...

If you look at the monthly time frame you will see that the current trend since then has been LH/LL's.

One the weekly since making a HH on February 22, 2021, it has broken structure on May 10, 2021 by forming a LH and has since gone done to form a new low on August 16, 2021.

From there it has come back to form a LH on October 25, 2021 and has been bearish ever since.

This trend is expected to continue until it creates a LL south of 0.69843.

On the daily time frame, you will see that the price is coming from a HH that was created on October 28, 2021 which is at the same point the LH was created on the weekly chart. In order to complete the sell move on the weekly and monthly time frames, I am expecting a break in structure with a new low to be created on the daily timeframe.

The current trend is evident also on the H4 and H1 timeframes (LH/LL) and so my bias for sell moves in keeping with the trend. Right now I am awaiting confirmation for a LH or High on the H1 timeframes so that I can enter for a sell move.