AUDUSD 4H Analysis, 1st July 2021
Daily Trend : Bearish
4H Trend : Bearish
Trade Scenario 1 :
We could see AU is coming close to the last low which also act as a support level. IF it couldn't break the low, rejecting support area and start forming bullish structure in lower timeframe, we could potentially see a double bottom pattern formed and then we could go long.
Trade scenario 2 :
To put short position we could be more conservative by wait for break the support area/the last LL and wait a LH to entry short position.
4H Trend : Bearish
Trade Scenario 1 :
We could see AU is coming close to the last low which also act as a support level. IF it couldn't break the low, rejecting support area and start forming bullish structure in lower timeframe, we could potentially see a double bottom pattern formed and then we could go long.
Trade scenario 2 :
To put short position we could be more conservative by wait for break the support area/the last LL and wait a LH to entry short position.
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