AUDUSD 4hour Analysis November 6th, 2022
AUDUSD Beaish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We have experienced some high volume last week which leaves us with a difficult chart to read this week.
Looking at the chart we can see that overall we’re bearish until we see some structure above 0.65500 as that is where the last 4hour high plummeted from.
Ideally, we can spot a nice reversal from this high and look to enter on lower highs below support levels.
Trade scenario 2: If we are to consider AU bullish again we would need to see this bullish volume from last week continue and push AU above 0.65500.
If this happens we can look for structure forming higher lows and comfortably enter long.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We have experienced some high volume last week which leaves us with a difficult chart to read this week.
Looking at the chart we can see that overall we’re bearish until we see some structure above 0.65500 as that is where the last 4hour high plummeted from.
Ideally, we can spot a nice reversal from this high and look to enter on lower highs below support levels.
Trade scenario 2: If we are to consider AU bullish again we would need to see this bullish volume from last week continue and push AU above 0.65500.
If this happens we can look for structure forming higher lows and comfortably enter long.
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