The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD ran into sharks
2019-11-11 • Updated
SELL 0.773 SL 0.7785 TP 0.76
SELL 0.786 SL 0.7915 TP1 0.773 TP2 0.76
On the daily chart, AUD/USD keeps going to 161.8% and 88.6% targets of the junior “Crab” pattern and the senior “Shark” pattern. They are situated around 0.76. The trend remains descending, so the pullbacks may be used for selling.
On H1, AUD/USD can trigger the inverted “Shark” pattern and correct towards its target at 88.6%. To do this, bears need to break the diagonal resistance in the form of the upper border of the downtrend channel.
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