not yet ready to rise back up
I was expecting a retest around 0.739 and then AUDUSD moving back up, however, it seems that's not the case and it's looking for a deeper retracement.
I will be looking for buying opportunity if price does go back up above 0.7407, but for now I'll be looking to short which seems to be less risky.
SL: again very tight, you may want to put it up above 0.7407 which is more resonable
TP: next previous support which sits just around the 0.382 fib (0.73355)
If price moves lower than 0.73355 the rise of AUDUSD will be in serious doubt in my opinion.
GL.
I will be looking for buying opportunity if price does go back up above 0.7407, but for now I'll be looking to short which seems to be less risky.
SL: again very tight, you may want to put it up above 0.7407 which is more resonable
TP: next previous support which sits just around the 0.382 fib (0.73355)
If price moves lower than 0.73355 the rise of AUDUSD will be in serious doubt in my opinion.
GL.
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