SELL AUDUSD (BREAK AND RETEST) IDEA.
1. Price in the daily time frame was consolidating between two levels, marked with the dotted blue horizontal lines.
2. But as it was consolidating, it was closing lower and lower, that is, making small Lower Highs.
3. And also with the zone drawn, we can see that price was breaking and retesting the zone on the downside.
4. However, even though the trend is an uptrend in the long run, price will fall down to a certain demand zone (as a form of retracement), then proceed with the uptrend if market structure holds.
2. But as it was consolidating, it was closing lower and lower, that is, making small Lower Highs.
3. And also with the zone drawn, we can see that price was breaking and retesting the zone on the downside.
4. However, even though the trend is an uptrend in the long run, price will fall down to a certain demand zone (as a form of retracement), then proceed with the uptrend if market structure holds.
Penafian
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