AUDUSD long trade on 20/7/22
Pre-Analysis:-
- Correlation based on 4 hour timeframe shows AUD stronger than USD. While fundamental sentiment shows both currency are strong. It may pose some risk taking on this trade.
- Entry during Asian session
Post Analysis:-
- I scratch this trade, as I realised that this was not a ready to trade setup.
- It may requires some time to show you some information and reaction on this, thus scratching this trade was the best thing to do.
- Wait for more reaction on the sellers side, if they died then it will be your turn to buy.