AUDUSD 26 Feb 2024 on H4 timeframe. It can be seen that the pair is still ranging between R1 and R1 after breaking out of the kumo cloud last week. Successfully breaking through R1 after breaking out of the kumo on the ichimoku indicator and experiencing market volatility, the pair is now sitting at 0.65521. Referring to the stochastic indicator, it appears that the bearish trend may continue until it touches level 20 or when it touches R1 and bounces back up. Therefore, go-short is still an option for traders until the trend reversal occurs. Keep learning many indicators before making trading decisions.
