Greetings feathered friends,
Aud.Usd has been a good trending pair to trade recently with your 3 Ducks, 4 hour trend was most defiantly down and no doubt some of you clever Duck Hunters bagged a few pips when all your Ducks lined up for a sell, well done!
Recently the pause button has been hit, over the past 48 hours or so we've seen this pair retrace up from the low @ 0.7310 pushing price onto the wrong side of the sma on the 1 hour chart.
What this looks like, currently your 2nd Duck (1 hr chart) is not confirming - basically it's not in-line with your 1st Duck (4 hr chart) who's price is below, on the bearish side of its sma (favouring selling trades only).
The next trading opportunity, what needs to happen for us to get all bearish again on Aud.Usd and for the 4 hour down trend to continue? We'd really need to see price get back below support on the 1 hour chart (see above), a breakout that would also get price back on the bearish side of the sma. Will it come? Let's see!
Potential Profit Target, if you do get short this pair in the coming sessions, the low @ 0.7310 could be used to take some profit at, bag a few pips just before that low.
Good trading for the rest of this week,