- AUDUSD has completed a bearish breakout below key support levels -Break below 0.9200 main horizontal support -Break below 200-days long term moving average -Break below support of the short term bearish channel -Today'retest of 0.9200 was strongly rejected
Next main target and potential support is at 0.9080, which is a previous neckline for an inverted head and shoulders, and also the 50-percent retracement level for the overall bullish trend. Further downside targets at 0.8980 and 0.88880. My risk limit on this trade is a daily closing above 0.9255.
Hi can I ask at what level did you initiate the short and the factors for it? Did you zoom into 4hr to look for price action?
Cheers.
Technician
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hello, unfortunately, i didn't have the opportunity to short. But usually, i zoom to the four-hour chart and wait for rejection. Sometimes i just short without confirmation..