AUDUSD: PIN-BAR CANDLE MAY CHANGE THE GAME-BEARISH.
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The pair AUDUSD is open to make a very quick short-term trade.
In a 1 hr timescale, at 0.73121 the market printed an impulse in order to turn the trend to the top.
Right after the impulse, candles formed in a sideways to keep the movement steady from the downfall.
At the point 0.73792, the market printed an impulse and gave a hike to the signals (shown in the graph).
After that particularly at 0.74726, the market formed a pin-bar because of the price range reached the previous resistance pullback point.
By that, the signals stucks in the price range for a while and become a pin-bar candle.
On account of the pin-bar candle formation, the signals may have a pullback and travel to the next support zone .
If the signal break the trend with markable impulse mean, the fall will be very quick.
On the other hand, if the price range doesn’t get the trend change and continue to move in the bull area means, end the trade at 0.74877.
KEEN ON MOVEMENT AND DECIDE YOUR TRADE.
Stop loss: 0.74877
Risk Vs Reward: 2.88
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Trade signals would usually have a risk to reward ratio of 1:2.
It means that even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
This allows you to be good in overall pips profit.
Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.
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Note: Please leave comments for any query.
Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.
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