🔸Hello traders, let's review the 4 hour chart for AUDUSD today. Previous analysis was invalidated and risk/reward shifted in bulls favor mid-term. the current price structure resembles inverted H*S and therefore I recommend to focus on buying dips after pullbacks.
🔸Short-term expecting more gains as bulls retook control recently, potential re-test of strong s/r level overhead pending near 6750. bears should focus on shorting from resistance while bulls should wait for a pullback after re-test near 6750 and then buy low after the pullback.
🔸Recommended strategy AUDUSD: bears short from mirror s/r level at 6750 SL 40 pips TP1 + 80 pips TP2 final +140 pips at 6625. Bulls wait for pullback and buy low near 6625, SL 40 pips TP1 +80 pips TP2 +160 pips final TP bulls is 6800. good luck traders!
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higher risk strat: market buying near current price TP 6750