price is trending down on this 8 hour time frame and confirmed by higher time frames. Price has formed a bearish pin bar on recent retrace. Price retraced to recent support, reached 50% fibonnaci and 8 and 21 period moving averages line up. market order placed as shown, stop loss placed well beyond previous support and profit target is placed at previous resistance area. Risk to reward is 1:2.
Trade closed: stop reached
⋅
stop loss trigger, price reacted to AUD CPI news release.