Technician
Short

Trade Idea: a quick trend following short trade

FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
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Looking to short AUDUSD a bit higher next week. The price has shown rejection near main resistance area within the context of the overall down trend. Simple, but high probability trade in my view.

Best
Technician
Trade closed: stop reached
Comment: Profit(in pips)= -47
Comment: Return on capital = -2%.
Note: Risk per trade is 2%
Hello, I have to say I disagree with this trade and here is why.

1. The bottom is daily structure so its a potential reversal zone so would not want to go short
2. There is a double bottom at structure resistance with an engulfing bullish candle which signifies the reversal

Would be glad to here your thoughts with hindsight!

Hope this helps future trades

Happy Trading
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