Not much to say here, AUDUSD has been in a downtrend for some time. I sold at counter trend break with minimum risk 0.1 Lots. Stop slightly above previous high with take profit 3x the risk.
Lets see what happens.
Trade active
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Pair has been in an overall downtrend and just recently broke a strong area of support/ resistance . According to Fibonacci our target is around 1.67708 Analysis: 1) Monthly timeframe direction = downtrend 2) Daily timeframe = big rejection of resistance zone indicating a high price. One can also confirm this with the most recent lower highs since 05 April 2022. 3) 1 hour = This is our entry timeframe. Market on the chart we had a few wick rejections in this zone, we had RSI divergence with most recent higher highs. I entered (sold) on 18 May 2022 18:00PM with the break of the counter trendline bearish .