W - Neutral, price is overextended, but has started consolidating at the bottom of the push, this tells me that price is being accepted
D - Neutral, price has been in a bearish trend and has been consolidating for 2 - 3 weeks now. price is again at the bottom of the consolidation zone
4 - Neutral, in the consolidation zone price looks to be making a smaller consolidation at the bottom of the zone. potential break below could mean a very big bearish move
1 - Neutral, price is consolidating near the bottom of the consolidation zone
DXY - Neutral, price is at the major resistance and has slowed momentum while it approaches which makes me lean bearish, not necessarily a good sign for AUDUSD but we shall see
Scalping entries-
.7316 is the area I will be looking for a break and retest, that is a clear break out of the consolidation zone so a retest on the 5 minute will be a nice entry.
if price continues up I am not looking to enter as it will be continuing to consolidate and I do not trade consolidation zones.
D - Neutral, price has been in a bearish trend and has been consolidating for 2 - 3 weeks now. price is again at the bottom of the consolidation zone
4 - Neutral, in the consolidation zone price looks to be making a smaller consolidation at the bottom of the zone. potential break below could mean a very big bearish move
1 - Neutral, price is consolidating near the bottom of the consolidation zone
DXY - Neutral, price is at the major resistance and has slowed momentum while it approaches which makes me lean bearish, not necessarily a good sign for AUDUSD but we shall see
Scalping entries-
.7316 is the area I will be looking for a break and retest, that is a clear break out of the consolidation zone so a retest on the 5 minute will be a nice entry.
if price continues up I am not looking to enter as it will be continuing to consolidate and I do not trade consolidation zones.