AUDUSD – Price Action Sell Trade Profits +175 Pips (1hr intra-day chart)
Earlier this week I posted a live trade setup of me shorting the AUDUSD from the corrective structure highs. After forming a balancing structure and making marginal new lows, I took profit today banking +175 pips and a +3.5R.
Note: I did not trade using ‘confirmation’ which would have either a) given me a worse entry or b) caused me to miss the trade entirely.
No 1-2 bar candle formation will ever represent ‘confirmation’. To learn why confirmation in price action is a myth and what you really need to be watching for, click here.
For now ST I’m taking a neutral to slightly bullish stance as …... Keep reading