Greetings Forexia Crew, Lets break down the analysis on AUSUSD chart. As it can be seen from the chart above that the pair has overall downtrend. However, the pair has bounced off the support zone. Where retail traders might buy of that zone. Thus, I believe that its a pull back and induction before the move. I am expecting the scenario below, if the pair stop hunts above the zone and forms the M formation, and ecr or dcr on the 5min. I will consider selling until that i might not sell from the first leg itself.
Please use proper money management and lot sizes!
It went completely to upside without giving any proper entries!