Hello. I am short on this pair now, on break of the lows of the circled 30min candle.
The SL is not above the highs of that candle, but higher, as you can see. This is because I am seeing bearish set-ups develop on the higher timeframes as well (1H just triggerted short as well, 4H will trigger short if the lows of the current 4H candle which is still developing are breached, the daily will also trigger short if the lows of today are breached tomorrow).
So basically it is an attempt to enter short at a very early stage. I do not know why, but AUD seems very weak and set to weaken further, even weaker than the EUR. China-related? I do not know and I don't care. I just want to be in when it moves.
The SL is not above the highs of that candle, but higher, as you can see. This is because I am seeing bearish set-ups develop on the higher timeframes as well (1H just triggerted short as well, 4H will trigger short if the lows of the current 4H candle which is still developing are breached, the daily will also trigger short if the lows of today are breached tomorrow).
So basically it is an attempt to enter short at a very early stage. I do not know why, but AUD seems very weak and set to weaken further, even weaker than the EUR. China-related? I do not know and I don't care. I just want to be in when it moves.