AUDUSD 4H Wave Analysis
AUDUSD is currently at a decision point.
--> But what is possible and what is probable?
A daily pinbar sell signal was formed. In my opinion it will trick many retail trader into thinking short, hopping too fast on the short train before getting eaten alive. The daily sell pinbar will probably not be confirmed and price will shoot through the roof.
Have a look at my last analysis for track record:
This is no investment advice. Just for educational purpose. Trade with demo account before risking your own money.
- Market made a higher high with the bigger Wave 2 (Red)
- Followed by higher highs and higher lows in the ongoing wave 3.
- The descending trendline was broken to the upside in impulsive fashion
- Price currently sits at the retest of this long term TL which lines up with 38% Fib lvl
- So right now everything indicates a bullish trend with continuing dollar devaluation
- Target is around the last major high where a lot of profit taking will take place
- Some may say short is the place to go.
- And yes you should always consider every possibility.
--> But what is possible and what is probable?
A daily pinbar sell signal was formed. In my opinion it will trick many retail trader into thinking short, hopping too fast on the short train before getting eaten alive. The daily sell pinbar will probably not be confirmed and price will shoot through the roof.
Have a look at my last analysis for track record:
This is no investment advice. Just for educational purpose. Trade with demo account before risking your own money.
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