This is Atanas, your trading tour guide.
I keep traders organized and educated, and I know all the tips and tricks.
Haha, just kidding 🙂
Actually, it has been a while since I wrote a trading analysis article.
Last time, my analysis was on on AUDUSD.
Price did come off a bit from the highs, but it has been in a tight range ever since.
That’s why, I have been paying attention and it looks like we might be onto something new again.
AUDUSD Trading Analysis 24.04.2023
Today, I am looking at the AUDUSD pair again.
It seems like the price has re-tested the supply zone and might be ready for a new plunge lower.
There is a bearish engulfing candlestick pattern as shown on the screenshot above.
Now, I will be looking for a retracement back to the 0.6700 area.
Then, I would be waiting for a confirmation from the 4H chart.
If I see one, then I might be looking to short this pair.
Let’s see where price will go next.
I am patiently waiting.
Did you check out my recent article on Why Traders Fail?