This is a follow-up trade of AUDUSD analysis. The price has formed a wide spread up-bar on news. But according to previous analysis my view in the market was bearish and now prices were attractive for a short trade. I waited a valid setup from Analytical Trader and shorted the market:
- At the time of entry background was weak.
- Strong signal (Minor Supply) before trend changed.
- Dynamic trend turned from green to red.
- Entry in a low volume up-bar. Low volume in a bull move shows that there is no buying pressure. It means that professionals are not interested in higher prices right now.
- Exit by reaching TP level.
Total: + 78 Pips
Now the price came close to long-term support. It is important to watch price behavior near this level.
