AUDUSD - Structure Trading Using Candlestick Clues

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WHAT I'M LOOKING FOR
Price action has broken out to the upside & is currently holding at a previous level of structure resistance here on the $AUDUSD.

MY PREDICTION
Based on the candlesticks that have been produced at this level I'm predicting a brief period of relief which opens up the opportunity for a bearish counter-trend structure trade. If we do reverse at this level I would predict price to retest the previous (inside) level of structure resistance that should now act as potential support

HOW TO GET INVOLVED
Price has currently put in 2 Doji candles followed by a lower low & a lower close candle. This in itself is a good (and aggressive) reason for entry. The only concern that I have (in my personal trading) is that I am unable to get a quality risk reward.

If you have any questions, comments, or just want to share your views, please do so below!

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Penafian

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