Returning to a possible Aussie short? 🦘📉

Direct from the desk of Dane Williams,

This is not your average forex broker email.

Afternoon team,

I know I’ve been MIA for a week or so, but sometimes real life just draws you away.

I’m sure you understand…

But I’m back and after speaking about AUD/USD rejecting from higher time frame resistance in today’s market narrative blog, I’ve got an intraday setup for you here.

Bring up your Aussie hourly.

AUD/USD Hourly:

You can see the higher time frame resistance zone from the daily chart that we’ve been talking about on the blog for ages now.

So price moved up to test it and held the zone. Remember, we want to see if the zone holds before shorting so the fact that price poked its head above the zone a little bit doesn’t matter.

You can see it was just a wick on the daily anyway.

#1 then shows price printing a short term trend change from bullish to bearish. See the stepping pattern change?

If you didn’t short there, then #2 shows a clear retest of short term support turned resistance. The exact intraday setup I’m always on the look out for.

This is the type of price action that you should be looking for around your higher time frame support/resistance zones!

If you have any questions about this setup or the simple support/resistance trading strategy that I use, then simply hit reply to this email.

I read and reply to everyone inside my Inner Circle who takes the time to email.

Best of probabilities to you,