Greetings feathered friends,
Aud.Usd has been a good [I]trending[/I] 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!
[B]Recently the pause button has been hit, [/B]over the past 48 hours or so we’ve seen this pair retrace up from the low @ 0.7310 pushing price onto the [I]wrong[/I] side of the sma on the 1 hour chart.
[B]What this looks like, [/B]currently your 2nd Duck (1 hr chart) is not confirming - basically it’s [U]not[/U] 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).
[B]The next trading opportunity,[/B] 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 [I](see above)[/I], a breakout that would also get price back on the bearish side of the sma. Will it come? Let’s see!
[B]Potential Profit Target,[/B] 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,