AUD/USD Descending Channel & Trend Continuation
Channel Continuation
Good Day Traders,
I'm looking to continue selling AUD/USD in this descending channel. I've highlighted a good entry should it provide to us a break and retest of the 0.7250 zone. I feel a retest with selling pressure of the channel would give good confluence to continue trading lower down to 0.71500 Area. My TP will be slightly above this zone to ensure a high probability trade.
I've also highlighted a descending triangle (Green) inside the channel. I like trading these patterns should price action respect them.
Multiple factors of confluence and trend continuation with 21 EMA on top of descending channel. Potential breakout lower.
This idea is purely based of price action and please feel free to leave a comment.
If price breaks above the descending channel this idea is invalid.
(clean View)
Good Day Traders,
I'm looking to continue selling AUD/USD in this descending channel. I've highlighted a good entry should it provide to us a break and retest of the 0.7250 zone. I feel a retest with selling pressure of the channel would give good confluence to continue trading lower down to 0.71500 Area. My TP will be slightly above this zone to ensure a high probability trade.
I've also highlighted a descending triangle (Green) inside the channel. I like trading these patterns should price action respect them.
Multiple factors of confluence and trend continuation with 21 EMA on top of descending channel. Potential breakout lower.
This idea is purely based of price action and please feel free to leave a comment.
If price breaks above the descending channel this idea is invalid.
Penafian
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