848evo
Short

[TRADE] (RR=2.15) AUDUSD Lower Channel Breakout

FX:AUDUSD   Australian Dollar/U.S. Dollar
40 0 1
AUDUSD             has broken the lower channel and also retested the channel as well, looking for further movement down. If PA breaks the previous low, I will enter with an initial SL a few pips above the resistance line and looking to take profit near the lower support line for a RR of 2.15. Make sure to wait until PA breaks the 61.8 fib retracement before entering the trade.

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***** HOW TO READ THE CHART: The red and blue lines represent clusters of BUY/SELL orders. The thicker the line, the stronger the cluster. Red = SELL, Blue = BUY. Grayed Out = Cluster Hit & Gone.
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