AUDUSD - 50% Retracement Entry (4HOURLY SUPPLY ZONE)

Shorting the AUDUSD. Daily trend is downwards. Price is at mean price at this moment. The pair dropped close at the end of April, and now it's pulling back and retesting structure. A bearish pinbar has formed in the 4-hourly timeframe. We'll see where the market brings us this time.

Targeting a decent 1:3 RR ratio.

Trade active

Comment:

Price managed to reach the distal of the zone, breaching a bit, but doesn't matter as there is a daily supply zone just above. Lets see if it holds on

Trade closed: target reached:

great trade